Vikrant Shekhawat : Oct 21, 2024, 06:00 AM
Indian Smartphone Market: Chinese companies have long dominated the Indian smartphone market, but this time a surprising name has come on top. Vivo has set the record for selling the most smartphones in India in the third quarter, selling more than 9 million units. According to the report, the company focused on clearing its inventory ahead of the arrival of the festive season, for which it used both online and offline channels.According to the Canalys report, smartphone shipments grew 9 per cent in the third quarter. However, initial festive demand remained weak due to rising food inflation and sluggish urban spending. According to Canalys analyst Sanyam Chaurasia, most retailers aggressively shipped devices to meet festive demand, but inventory may increase due to weaker-than-expected traction.Vivo's achievementChinese company Vivo has topped a quarter for the first time, with a market share of 19 per cent. The company shipped 9.1 million units. Xiaomi took the second spot with 7.8 million units thanks to its budget 5G phones, while Samsung was third with 7.5 million units. Oppo (excluding OnePlus) and Realme rounded out the top five with 6.3 million and 5.3 million units shipped, respectively.Progress of other companiesCompanies outside the top five have also seen growth. There has been tremendous demand for the iPhone 15 in smaller towns ahead of the launch of Apple's new phone. Brands like Motorola, Google and Nothing have carved a niche for themselves in the market with their unique designs and clean user interfaces.Forecast for the futureCanalys analyst Sanyam Chaurasia pointed out that smartphone companies are dependent on offline sales ahead of Diwali and will be cautious about inventory levels at the end of the year. According to the report, heavy discounts and extended channel margins will be required to effectively manage stock in the second half of 2024.Canalys forecasts modest single-digit growth for 2025, as the replacement cycle triggered by COVID-19 will end in the first half of next year. However, the Indian smartphone market remains poised for growth with the large launch of ultra-low end 5G devices. Demand and sales of 5G devices priced below Rs 10,000 are expected to increase in the coming year.: Chinese companies have long dominated the Indian smartphone market, but this time a surprising name has come on top. Vivo has set the record for selling the most smartphones in India in the third quarter, selling more than 9 million units. According to the report, the company focused on clearing its inventory ahead of the arrival of the festive season, for which it used both online and offline channels.According to the Canalys report, smartphone shipments grew 9 per cent in the third quarter. However, early festive demand remained weak due to rising food inflation and sluggish urban spending. According to Canalys analyst Sanyam Chaurasia, most retailers shipped devices aggressively to meet festive demand, but inventory may increase due to weaker-than-expected traction.Vivo's achievementChinese company Vivo has topped the list for the first time in a quarter, with a market share of 19 per cent. The company shipped 9.1 million units. Xiaomi took the second spot with 7.8 million units due to its budget 5G phones, while Samsung was third with 7.5 million units. Oppo (excluding OnePlus) and Realme rounded out the top five with 6.3 million and 5.3 million units shipped, respectively.Progress of other companiesCompanies outside the top five have also seen growth. There has been tremendous demand for the iPhone 15 in smaller towns ahead of the launch of Apple's new phone. Brands like Motorola, Google and Nothing have carved a niche for themselves in the market with their unique designs and clean user interfaces.Forecast for the futureCanalis analyst Sanyam Chaurasia said that smartphone companies are dependent on offline sales before Diwali and will be cautious about inventory levels at the end of the year. According to the report, heavy discounts and extended channel margins will be required to effectively manage stock in the second half of 2024.Canalis forecasts modest single digit growth for 2025, as the replacement cycle triggered by COVID-19 will end in the first half of next year. However, the Indian smartphone market remains poised for growth with the large launch of ultra-low end 5G devices. Demand and sales of 5G devices priced below Rs 10,000 are expected to increase in the coming year.