“Heatwave conditions in various regions led to lower footfalls in offline channels and delayed smartphone purchases as consumers prioritized appliances like air conditioners and refrigerators. This reduced demand caused an inventory build-up,” said senior research analyst Shilpi Jain.
“However, summer sales at online channels, good harvest and aggressive promotions towards the end of the quarter provided relief to OEMs, helping close the quarter on a better note than at the beginning,” she added.
During the quarter, Xiaomi reclaimed the top spot with a 23% year-on-year increase in shipments. This growth was driven by a well-organised product range, spanning entry-level to affordable premium segments. To further cement its position, the company focused on promoting flagship handsets, enhancing marketing efforts and expanding distribution channels.
Samsung led in value terms for the second consecutive quarter, capturing over a quarter of the market. Its new Fold 6 series is expected to sustain this leadership. By prioritising value over volume, the brand saw its ultra-premium segment (over Rs 45,000) grow by 99% year-on-year in Q2 2024. Vivo took the second spot, driven by its higher-priced models like the V30 series, which feature improved cameras.
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Meanwhile, Apple ranked third in value terms, but is expected to rebound in the next quarter, driven by the recent price cuts across the entire range of iPhones.Realme and Oppo closed the charts at fourth and fifth place with a share of 12.5% and 11.4%, respectively.
