India turns hotspot for smartphone brands as Chinese majors dominate

For Apple Inc, India accounted for 6 per cent of its global iPhone sales volume in the fourth quarter (Q4) of calendar year (CY) 2024, driven by the iPhone 15, which was the best-selling smartphone in India during the quarter, according to estimates by Counterpoint Research.

 

Not to be outdone, India accounted for 12 per cent of Samsung’s total global smartphone sales volume in the same quarter. Both companies increased their share in India by 1 percentage point compared to the same quarter last year.

 

Apple’s move is also sizeable because 12 per cent of global iPhone production has already shifted to India. Exports reached $11.53 billion in CY 2024, an increase of 42 per cent over the previous calendar year. In Q4 CY 2024, Apple also entered the list of the top five most-sold smartphones in India, taking the fifth spot away from Realme.

 

If that’s not enough, despite tensions between India and China due to border disputes — which are now easing — Chinese brands maintain a dominant position in India, increasing their share of the global smartphone sales volume.

 

In Q4 CY 2024, India accounted for 33 per cent of Vivo’s global sales volume, up from 31 per cent in the same quarter last year. It also increased its share of the Indian market to 20 per cent, displacing Xiaomi, which held the top slot in the same quarter last year.

 

For Oppo and OnePlus combined, India accounted for 27 per cent of global sales, up from 23 per cent last year in the same quarter. Only Xiaomi saw a decrease, with India accounting for 15 per cent of its global sales volume.

 

Says Shilpi Jain, senior research analyst at Counterpoint: “India is the second-largest smartphone market in the world. 5G adoption, increasing premiumisation, a growing middle class, and a large population serving a broad consumer base have made India a lucrative market for all players. It is also emerging as a manufacturing hub.”

 

According to Counterpoint's latest data, in Q4 of CY 2024, India’s share of global smartphone sales volume increased by 1 percentage point, reaching 13 per cent of global volume sales compared to the previous year.