Decline in India's Smartphone Shipments Amid Heatwave and Slower Demand

India's smartphone shipments decreased by 2% year-on-year in Q2 2024 due to a heatwave and slower demand, according to Counterpoint. Despite this decline, 5G smartphones achieved a 77% share in overall shipments. Xiaomi topped in volume while Samsung led in value. The premium segment saw substantial growth.

India's smartphone shipments fell by 2% year-on-year in the June quarter, largely affected by the heatwave and sluggish demand, according to a report by global research firm Counterpoint. The report highlighted that Xiaomi reclaimed the top spot in volume share, while Samsung led in value terms.

Significantly, 5G smartphones captured their highest-ever share of 77% in the overall shipments, as indicated by Counterpoint's Monthly India Smartphone Tracker. Another noteworthy trend was the record high Q2 value in India's smartphone market, driven by a shift towards premium devices.

'India's smartphone shipments fell 2% YoY in Q2 2024 (April-June),' the report stated. Factors such as a heatwave, seasonal demand slump, and slower demand from Q1 2024 influenced this decline. Consequently, OEMs hosted sales events in Q2 to clear inventory, leading to a period of degrowth. However, targeted promotions and a good harvest helped balance the quarter's performance towards the end.