Counterpoint: India's smartphone market revenue will grow 9% year-on-year in 2024, reaching a record high

According to the latest data from market research firm Counterpoint Research, the Indian smartphone market is expected to be prosperous in 2024, with revenue hitting a record high and shipments growing steadily. Calculated at wholesale prices, the Indian smartphone market's revenue in 2024 will grow by 9% year-on-year, a significant increase that will successfully break the historical record for that year's revenue.

In terms of market revenue ranking, Apple performed outstandingly and topped the list for the second consecutive year. It is particularly worth mentioning that in the fourth quarter of 2024, Apple ranked among the top five in shipments for the first time with its outstanding performance, and its iPhone 15 became the model with the highest shipments in the quarter.

Looking ahead to the whole of 2024, the performance of Chinese mobile phone brands in the Indian market is outstanding.

Among the top five brands in terms of shipments, Chinese mobile phone brands occupy four seats. Among them, vivo ushered in a major breakthrough in fiscal year 2024, and topped the market for the first time in terms of shipments, with a market share of 19%. Xiaomi followed closely behind, ranking second with a market share of 17%.

In addition, Samsung ranked third with a share of 16%; OPPO ranked fourth with a share of 15%; and realme ranked fifth with a share of 11%.