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India’s smartphone volume grew by 3 per cent (year-on-year) in the third quarter (Q3 2024) this year, as Samsung led the market in terms of value with a 23 per cent share, closely followed by Apple with a 22 per cent share, according to a report on Wednesday. 

The value of Indian smartphone market surged by an impressive 12 per cent (on-year) to reach an all-time record for a single quarter, according to the latest research from Counterpoint’s Monthly India Smartphone Tracker. 5G smartphones captured their highest-ever share of 81 per cent in the overall shipments.

“The market is increasingly shifting toward value growth, fuelled by a premiumisation trend, which, in turn, is supported by aggressive EMI offers and trade-ins,” said senior research analyst Prachir Singh.

Samsung has been prioritising its flagship Galaxy S series and enhancing its value-driven portfolio. Samsung is also integrating Galaxy AI features into its mid-range and affordable premium models in the A series, encouraging consumers to upgrade to higher price segments.

On the other hand, Apple closely follows Samsung at the second spot. The brand has aggressively expanded into smaller cities, driving significant value growth with an increased focus on newer iPhones.

“Strong shipments of the iPhone 15 and iPhone 16 ahead of the festive season have further enhanced Apple's performance. As consumers increasingly invest in premium smartphones, Apple has cemented its status as the top choice for premium buyers in India, supported by its aspirational image and expanding footprint,” said Singh.

Nothing was the fastest-growing brand for the third successive quarter, recording an impressive 510 per cent YoY growth in shipments in Q3 2024 and entering the top 10 for the first time.

The Nothing’s growth was fueled by portfolio expansion, strategic market penetration, and partnerships with over 800 multi-brand outlets across more than 45 cities, said the report.

Within the realme portfolio, the contribution of the premium price band (Rs 30,000 and above) increased to 6 per cent in Q3 2024, driven by the reintroduction of the GT series this year.