Samsung Dominates Indian Smartphone Market in Q3 2024

Samsung has retained its position as the leading smartphone brand in India for the third consecutive quarter in 2024, according to recent data from Counterpoint Research. The company captured a 23% market share by value in Q3 2024, driven by a strong emphasis on premium offerings and strategic initiatives.

Value Growth and Premiumization

The Indian smartphone market witnessed its highest-ever value growth in Q3 2024, fueled by a growing premiumization trend. This trend is supported by attractive EMI offers and trade-ins, encouraging consumers to opt for higher-priced devices. Samsung‘s focus on its flagship Galaxy S series and its enhanced value-driven portfolio, including the Galaxy A series, has contributed significantly to its market leadership.

Record-Breaking Value Growth

Counterpoint Research reports that the Indian smartphone market’s value grew by an impressive 12% year-on-year in Q3 2024 (July-September), setting a new record for a single quarter. This surge in value is attributed to the ongoing premiumization trend, with consumers showing a preference for feature-rich, high-performance devices.

Volume Growth and Festive Season

In terms of volume, the smartphone market experienced a 3% year-on-year growth in Q3 2024. This growth was primarily driven by the early onset of the festive season in India. Original Equipment Manufacturers (OEMs) proactively stocked channels to ensure retailers were well-prepared for the anticipated increase in festive sales.