Vivo has taken the lead in the Indian smartphone market, securing the top spot for Q3 2024 (July-September) with 9.1 million units shipped, marking an impressive year-over-year increase from 7.2 million units in the same period last year. With this growth, Vivo market share surged to 19%, propelling it to the number one position in the fiercely competitive smartphone space. As the Indian market continues to grow, remarkable rise signals a shift in consumer preferences and a strategic win for the brand.
Vivo Path to the Top
The leap from third place to market leader didn’t happen by accident. Vivo focus on delivering a wide range of smartphones that cater to various consumer segments has played a critical role in its ascent. From budget-friendly models like the Y series to mid-tier options in the V series, and even flagship devices like the X and X Fold series, Vivo has ensured that every type of customer is catered to. This multi-tiered approach has resonated well with India’s cost-conscious but tech-savvy consumers.
According to Menka Kumari, analyst at the Industry Intelligence Group, “Vivo strategic push into the 5G segment and its commitment to delivering high-performance devices at affordable prices have been key drivers of its success. It’s this careful balance that has allowed Vivo to lead India’s highly competitive smartphone market.”
Xiaomi and Samsung Follow Close Behind
While Vivo celebrated its victory, Xiaomi and Samsung had a mixed quarter. Xiaomi, which shipped 7.8 million units, holds a 17% market share but saw a 1% drop in market share compared to last year. Xiaomi decline in market share suggests that while its shipments are growing, it is feeling the pressure from Vivo meteoric rise. Once the undisputed leader in India, Xiaomi now finds itself in second place.
Samsung, on the other hand, recorded a 16% market share with 7.5 million units shipped in Q3, a drop from 7.9 million in 2023. While Samsung maintains a strong presence, particularly in the premium smartphone market, the South Korean giant is struggling to keep up in the affordable 5G race, where Chinese brands like Vivo and Xiaomi dominate.
Oppo and Realme: The Other Contenders
Not far behind the top three, Oppo recorded a solid performance in Q3 2024, shipping 6.3 million units and securing a 13% market share. Oppo’s impressive 43% growth year-over-year shows that it is not only holding its ground but making significant gains. The company’s success mirrors Vivo’s approach offering strong performance devices at accessible prices.
Meanwhile, Realme experienced a tough quarter, shipping 5.3 million units, down 8% year-over-year. With an 11% market share, Realme continues to be a major player, but its decline signals a potential need for a more aggressive product strategy to compete with the rising giants of Vivo and Oppo.
The Growth of India’s Smartphone Market
Despite the fierce competition among brands, India’s smartphone market experienced solid growth in Q3 2024. Total shipments reached 47.1 million units, reflecting a 9% year-over-year increase, according to Canalys. This surge was primarily driven by the rapid adoption of 5G smartphones, with more consumers than ever upgrading their devices to support faster connectivity. With affordable 5G devices now flooding the market, brands like Vivo are positioned to benefit greatly from this trend.
Analysts predict moderate growth for the Indian smartphone market in 2025, with low-cost 5G smartphones expected to be a key growth driver. According to Pankaj Jadli from CyberMedia Research, “The low-cost 5G segment is set to dominate in the coming years, and Vivo strong position in this space means the brand could see sustained success in the Indian market.”
Interestingly, while reigning leader in India, the company has yet to achieve the same success in other markets like Indonesia. Although Vivo has released a diverse range of products across various price points there as well, it hasn’t yet captured the top spot. This suggests that while Vivo strategy is clearly paying off in India, replicating this success elsewhere might require further fine-tuning to local market dynamics.
With the festive season on the horizon, the smartphone market is gearing up for one of its busiest periods of the year. Vivo, with its impressive range of affordable 5G smartphones, is well-positioned to maintain its lead. However, Xiaomi and Samsung are expected to ramp up their efforts to win back market share with aggressive promotions and new product launches.
As Vivo Q3 success demonstrates, the brand has expertly balanced affordability, technology, and consumer demand, making it the new leader in India’s ever-evolving smartphone landscape. Whether Vivo can hold onto this lead remains to be seen, but for now, it’s enjoying a well-deserved moment at the top.
