5G adoption drives 49% growth in India's smartphone market: CMR study

The share of 5G smartphones in total shipments surged to 82%, reflecting a significant 49% year-on-year growth, according to CyberMedia Research (CMR)'s India Mobile Handset Market Review for Q3 2024. Vivo emerged as the market leader in the 5G segment with an 18% market share, closely followed by Samsung at 17%. The report also highlighted a remarkable growth of over 100% in the sales of 5G smartphones priced between Rs 10,000 and Rs 13,000, signalling strong demand in the mid-range price segment.

Menka Kumari, Analyst- Industry Intelligence Group, CyberMedia Research (CMR), said “India’s smartphone market is demonstrating remarkable adaptability, with consumer preferences increasingly focused on 5G adoption and premium features. The continued growth of 5G smartphones, coupled with strong demand in the INR 10,000 to INR 13,000 price band, signals a growing consumer base for high-performance devices at accessible price points.”

In Q3 2024, Xiaomi led the smartphone market with a 17% share, followed closely by Vivo at 16.3% and Samsung at 16.2%, securing the top three positions. OPPO and Realme rounded out the top five with 13% and 12% market shares, respectively.

The report highlighted a 66% year-on-year growth in the Value-for-Money (VFM) segment, which includes smartphones priced between Rs 7,000 and Rs 24,999. This growth was driven by increasing demand from budget-conscious consumers seeking smartphones that offer 5G connectivity and premium features at more affordable prices.

CMR said that India’s smartphone market marginally grew by 3% year-on-year. Despite global economic challenges, consumer demand in India remains robust, driven by an increase in mid-range and premium smartphone preferences, it said.

Apple saw a significant boost in shipments, growing by 27% year-on-year. Nothing experienced extraordinary growth, with shipments surging around 646%. Meanwhile, Motorola demonstrated strong performance, achieving a 74% increase, driven by its focus on value-oriented offerings.

MediaTek emerged as the leader in India’s smartphone chipset market, capturing a 53% share. In the premium segment (smartphones priced above Rs 25,000), Qualcomm held the top spot with a 38% share, reinforcing its strong position in high-end device chipsets.

CMR estimates India's smartphone market to grow 7-8% in 2024, driven by strong demand for premium, 5G and AI smartphones.

“Looking ahead, the mobile handset market in India is expected to maintain steady growth. As brands focus on bridging technology gaps and introducing affordable 5G devices, the competition will likely intensify. The new wave of AI-capable devices will continue to fuel consumer preferences in the coming quarters,” said Pankaj Jadli, Analyst-Industry Intelligence Group (IIG), CyberMedia Research (CMR).