Chennai – November 4, 2024: Samsung was the number 1 smartphone brand by value in India for the third straight quarter in 2024, according to data released by Counterpoint Research. In Q3 2024, the Indian smartphone market achieved its highest- ever value led by Samsung which accounted for 23% market share, the research agency said.
“The market is increasingly shifting toward value growth fuelled by a premiumization trend supported by aggressive EMI offers, and trade-ins. Samsung currently leads the market by value with a 23% share, maintaining its position by prioritizing its flagship Galaxy S series and enhancing its value-driven portfolio. To strengthen its market presence, Samsung is integrating Galaxy AI features into its mid-range and affordable premium models in the A series, encouraging consumers to upgrade to higher price segments,” Senior Research Analyst Prachir Singh said.
Value growth during the third quarter (July-September, 2024) surged by an impressive 12% year-on-year reaching an all-time record in a single quarter, Counterpoint said. In terms of volume, the smartphone market grew by 3% year-on-year, Counterpoint said.
The value growth was driven by ongoing premiumization trend while the volume growth was driven by the earlier onset of the festive season. OEMs proactively filled channels, ensuring that retailers were well-prepared for the anticipated surge in festive sales, though festive sales started at a slower pace compared to the last year, the research agency added.