Samsung is struggling with various parts of its business. Its smartphone division is struggling against strong competition from Apple and Chinese manufacturers, and its semiconductor chip foundry business keeps posting huge losses quarter after quarter. The news for the company’s smartphone business in India is a combination of good and bad.
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Samsung Drops to Third in India, Vivo Leads Smartphone Market in 2024
Data recently shared by Counterpoint Research has shown that Samsung is now in third place in the Indian smartphone space in terms of volume share. It sold more phones in 2023 than 2024 and its market volume share fell from 18% in 2023 to 16%. This represents a transformation away from its status as the market leader in 2023.
Vivo has now claimed the top spot in India’s smartphone market, with a 19% volume share, while Xiaomi comes in second with 17%. OPPO and Realme follow in fourth and fifth positions, respectively. But when looking at value share, things look more positive for Samsung. Its share by value grew from 21% in 2023 to 22% in 2024, indicating that it sold more premium devices this year than last. This shift towards higher-end phones means higher profits for Samsung.
The revenue generated from smartphone sales has now brought the two companies almost on par in comparison to each other in India. Apple’s share of value also dipped from 24 percent in 2023 to 23 percent in 2024. With this, the report states, that Samsung’s premium devices, in particular the S series, performed well, allowing the company to get hold of the premium segment in the market.
Samsung’s volume share declined to 15% in Q4 2024, while Vivo and Xiaomi together took 20% and 16%, respectively. Demand for premium smartphone segments helps Q4 2024 Indian smartphone market growth by 5%. The new line-up could give Samsung a shot at regaining that coveted top spot in Q1 2025, particularly since a launch for the Galaxy S25 series of flagships is already hinted at for February 3, 2025.
FAQs
Who is leading the Indian smartphone market in 2024?
Vivo is currently the top-selling smartphone brand in India.
Did Samsung’s market share increase or decrease in India?
Samsung’s market share decreased, dropping to third place in 2024.
