Chinese smartphone player Xiaomi has bagged the leading place in Q2 2024 with an 18.9% shipment share, closely followed by Vivo with 18.8% and Samsung with 18.1% share, noted Counterpoint Research.

In terms of value, Samsung leads the market with a 24.5% share, followed by Vivo with 16.8% and Apple at 16.3%.

Apple is expected to rebound in the next quarter, driven by the recent price cuts across the entire range of iPhones, the report says.

Nothing became the fastest growing brand in H1 2024, with 567% yoy growth in shipments due to new models like Phone 2a and CMF Phone 1, claimed Counterpoint.

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Motorola achieved 88% yoy growth in Q2 2024 because of budget-friendly models.

Poco was the fastest growing brand in the ₹10,000-₹15,000 segment with 318% YoY growth due to budget-friendly M-series 5G models.

Realme experienced a 2% yoy growth by expanding its portfolio with the launch of new P-series models and reintroducing the GT series.

In Q2 2024, 5G smartphone shipments in India hit 77% share of the overall smartphone market, driven by their declining average selling prices (ASPs).

MediaTek led India’s smartphone chipset market with a 54% share. Qualcomm led the premium segment with a 33% share.

The ₹20,000-₹30,000 and >₹45,000 price bands saw the fastest growth at 25% and 24% yoy, respectively.

However, India’s smartphone shipments fell 2% yoy in Q2 2024 (April-June), due to heatwave, and slower demand from Q1 2024.