According to Zhitong Finance APP, Canalys stated in a report that in the third quarter of 2024, the Indian smartphone market grew by 9%, with shipments reaching 47.1 million units. To meet the holiday demand, major manufacturers conducted early monsoon promotional activities through online and offline channels to clear inventory in advance. However, due to rising food inflation and a slowdown in urban durable goods expenditure, the initial holiday demand remained weak. With strong promotion across all channels, vivo jumped to the top for the first time, capturing a 19% market share with shipments of 9.1 million units. Thanks to the promotion of its budget-friendly 5G product line, Xiaomi (01810) ranked second with shipments of 7.8 million units. Samsung followed in third place with 7.5 million units shipped. OPPO (excluding OnePlus) and realme ranked fourth and fifth with shipments of 6.3 million units and 5.3 million units respectively.
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Canalys Senior Analyst Sanyam Chaurasia stated that vivo rose to the top with the release of its high-end devices and active channel profits. Both vivo and OPPO expanded their online product portfolios, including the T3 and K12 series, boosting sales beyond their traditional offline channels. It is worth noting that leading brands in the market are expanding their high-end product portfolios to cope with inventory clearance during holiday promotions. Meanwhile, brands outside the top five also performed strongly this quarter. Apple saw a significant increase in shipments driven by the iPhone 15, especially with strong demand in smaller cities before the launch of new products. Other brands such as Motorola, Google, and Nothing continued to drive sales growth with strong factors such as unique design language, simple user interfaces, and channel expansion strategies.
Chaurasia further commented, &#34;Most manufacturers actively shipped to meet holiday demand, but due to lower-than-expected demand, inventory levels will increase. In the third quarter, due to the expansion of mid-to-high-end products, competitive trade-in policies, and convenient financing options, buyers looking to replace and upgrade tend to purchase higher-priced models. However, entry-level demand is weak as price increases force consumers to postpone purchases until after Diwali. Brands rely on offline shipments before Diwali, and they will remain cautious about year-end inventory levels. To effectively manage inventory in the second half of 2024, significant discounts and expanding channel profits will be crucial. It is worth noting that with the government, regulatory agencies, and brands prioritizing cross-channel operations, the gap between online and offline channels in actively providing products has narrowed.&#34;
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Chaurasia finally stated: &#34;In addition to the replacement cycle after the epidemic, the promotion of ultra-low-end 5G products will be crucial for the market's organic growth in 2025. Despite some challenges in raw material costs, driven by the supply chain and OEMs, the Indian smartphone market will launch multiple 5G devices priced below 10,000 rupees next year. Brands need to ensure that these devices not only have 5G functionality, as consumers and channels are unwilling to compromise on specifications and are willing to pay more for enhanced features at higher price points. In addition, financing options in the lower price segments allow consumers to better control their budgets.&#34;
Canalys predicts that with the replacement cycle driven by the epidemic ending in the first half of next year, there will be moderate single-digit growth in 2025, and the ultra-low-end 5G sub-market will remain a major natural market driver. Although rural demand has increased slightly in recent years due to improved monsoon conditions, the transition from feature phones to smartphones remains slow. This transition is hindered by competition from 4G feature phones and the growing unorganized second-hand market.
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In the third quarter of 2024, the shipment volume of smartphones in the Indian market reached 47.1 million units, a year-on-year increase of 9%. vivo became the market leader for the first time, with a 19% market share and a shipment volume of 9.1 million units. Xiaomi and Samsung ranked second and third with 7.8 million units and 7.5 million units respectively. Despite weak holiday demand, brands cleared inventory through online and offline promotions, driving sales growth. Analysts pointed out that the expansion of mid-to-high-end products in the market and policies such as trade-in programs attracted more consumers, but demand for entry-level products remained weak

- Canalys reports that the Indian smartphone market grew by 9% in Q3 2024, with shipments reaching 47.1 million units.  
- Vivo led the market with a 19% share, followed by Xiaomi and Samsung, while demand remained weak due to rising food inflation and slowing urban spending.  
- The market is expected to see moderate growth in 2025, driven by low-end 5G devices, despite challenges from raw material costs and competition from feature phones.

Canalys: In the third quarter, India's smartphone shipments reached 47.1 million units, with vivo taking the top spot for the first time