India's smartphone market grows 4% in 2024, reaching 151 million shipments
India's smartphone market grows 4% in 2024, reaching 151 million shipments
India’s smartphone market saw a 4% year-over-year (YoY) growth in 2024, with shipments reaching 151 million units, according to IDC’s Worldwide Quarterly Mobile Phone Tracker.
The first half of the year experienced a strong 7% growth, balancing a slower 2% increase in the second half. However, after five consecutive quarters of expansion, the market saw a 3% decline in Q4 2024, shipping 36 million units.
Apple’s Rise in India
India became Apple's fourth-largest market in 2024, following the U.S., China, and Japan. Apple’s shipments hit a record 12 million units, reflecting a 35% YoY increase. For the first time, Apple entered India’s top five smartphone brands in Q4 2024 with a 10% market share. The iPhone 15 and iPhone 13 were the most popular models, making up 6% of total shipments.
Key Market Trends in 2024
Price Cuts & Financing: Vendors and retailers offered discounts, price cuts, and extended warranties, especially post-festive season. No-cost EMIs up to 24 months were a key driver of premium and mid-range smartphone purchases.
Average Selling Price (ASP): The ASP of smartphones reached a new high of $259, with a modest 2% YoY increase—significantly lower than previous years' double-digit growth.
Fastest Growing Segments: The entry-premium segment ($200-$400) saw the highest growth at 35.3% YoY, making up 28% of the market (up from 21% in 2023). The premium segment ($600-$800) also grew 34.9%, increasing its share from 3% to 4%. Leading models included iPhone 15/13/14 and Samsung Galaxy S23/S24.
5G Adoption Soars: A total of 120 million 5G smartphones were shipped, making up 79% of all smartphone shipments (up from 55% in 2023). The ASP for 5G devices dropped 19% YoY to $303, making them more accessible. Budget 5G models ($100-$200) nearly doubled in shipment share to 47%, with Xiaomi Redmi 13C, iPhone 15, vivo Y28, iPhone 13, and vivo T3X leading the sales.
Sales Channels: Both offline and online sales grew by 4% YoY, maintaining similar shares—offline at 51% and online at 49%. Samsung led online sales, while Apple climbed to fourth place with the iPhone 15 as the top online-sold smartphone. In offline sales, vivo remained dominant, with OPPO and Xiaomi securing second and third positions, respectively.
Brand Performance & Market Share
Vivo Overtakes Samsung: Vivo claimed the top spot in 2024, thanks to its strong omnichannel presence, diverse product portfolio, and effective retail strategy.
Fastest Growing Brands: Nothing recorded the highest annual growth, followed by Motorola and iQOO.
Market Fragmentation: The dominance of the top five smartphone brands decreased over the years, with their combined market share shrinking from 76% in 2022 to 65% in 2024.
Feature Phone Decline: Feature phone shipments dropped 11% YoY to 54 million units. Transsion led with a 30% share, followed by Nokia and Lava. Overall, total mobile phone shipments (smartphones + feature phones) fell by 1% to 205 million units.
Outlook for 2025
According to Navkendar Singh, Associate Vice President of Devices Research at IDC India, smartphone growth in 2025 will depend on strengthening the mass segment ($100-$200) and expanding offerings in the entry-premium ($200-$400) range. Generative AI-powered features will become key differentiators across all price segments, moving beyond flagship devices. Meanwhile, online-only brands are expected to establish offline presence for sustained growth. However, the weakening rupee may impact ASPs, potentially limiting annual growth to under 5% in 2025.
