look news india
Ahmedabad: The Indian smartphone market grew by just 1 per cent during the April-June 2024 quarter. According to a recent report by market tracker Canalys, mobile shipments stood at $3.64 billion due to the Lok Sabha elections, seasonal demand slowdown and extreme heat in many areas. Inventory levels remained high during this period.
Some vendors launched new devices in the higher price segment, while others focused on reducing existing stock to make better use of inventory ahead of the festive season.
Canalys expects growth to remain in the mid-single digits in the upcoming festive season. However, Xiaomi has regained the top spot in the smartphone market after 6 quarters. The brand sold 6.7 million units with 18 percent market share. Vivo is second and Samsung is third with 6.1 million units sold. Apart from this, Realme and Oppo remained the top-5 brands with 4.3 million and 4.2 million units respectively.
The report said that the handset market is facing many challenges. For example, the mass-market segment is witnessing huge fluctuations in demand. The move from feature phones to smartphones has slowed down. 'The prevalence of second-hand smartphones has increased significantly.'