On Canalys: In the second quarter, the total shipment of smartphones in the Indian market reached 36.4 million units, with Xiaomi returning to the top spot

According to the information from Zhitong Finance and Economics APP, Canalys released data showing that in the second quarter of 2024, the Indian smartphone market saw a slight 1% increase in total shipments reaching 36.4 million units, affected by factors such as the Indian general election, seasonal low demand, and extreme weather conditions in some regions. With high inventory levels, some manufacturers continued to launch higher-priced new models, while others focused on reducing existing inventory to optimize stock before the holiday season. After six quarters, Xiaomi reclaimed the top spot with 6.7 million units shipped and an 18% market share. Vivo closely followed with the same shipment volume of 6.7 million units, mainly driven by affordable 5G and mid-range models. Samsung ranked third with 6.1 million units shipped. Realme and OPPO (excluding OnePlus) entered the top five with shipments of 4.3 million and 4.2 million units respectively.

Canalys Senior Analyst Sanyam Chaurasia stated, "In the second quarter of 2024, leading mass-market brands expanded their high-end product portfolios and will use the monsoon season to clear inventory, making room for new devices before the holiday season. Brands like Xiaomi strengthened their high-end product lineup with the Redmi Note 13 Pro series featuring updated colors and the Xiaomi 14 Civi with high-quality cameras and unique leather design, driving shipments for the quarter. Meanwhile, Vivo's success in the mid-range market is mainly attributed to the V series and Y200 Pro, focusing on exquisite design and camera features, and intensifying promotion through LFR retail stores. Although Realme plans to clear high inventory during the monsoon e-commerce sales, they are expanding their high-end product portfolio with the GT 6T and Digital series."

Chaurasia further added, "Manufacturers should focus on the viability of their business rather than market share, emphasizing providing strong value propositions to consumers. The market is striving to address various challenges such as fluctuations in mass-market demand, slow migration from feature phones to smartphones, and the increasing adoption of refurbished phones. Therefore, brands often create demand through holiday promotions. Despite consumers purchasing devices at higher prices, intense competition across different price segments due to brands vying for market share makes it difficult to maintain profit margins. Additionally, frequent discount activities during holidays raise consumer expectations for price reductions, diluting brand value and squeezing profit margins. Brands must prioritize product innovation, ecosystem development, and personalized experiences to ensure a sustained increase in shipments throughout the year, building a sustainable business model beyond seasonal demand and significant discounts."