Samsung is going through a rough patch across several of its businesses. Its smartphones are facing fierce competition from Apple and Chinese brands, while its semiconductor chip foundry business is losing billions every quarter. In India, its smartphone business brings some good news and some bad news.
According to the newest numbers from Counterpoint Research, Samsung dropped to third place in the Indian smartphone market in terms of volume share. It sold fewer phones in the country in 2024 than the previous year. In 2023, it ranked first and had a market volume share of 18%. This year, it fell to the third place with a market volume share of 16%. Volume share refers to the number of phones a company has sold.
Vivo became India's highest-selling smartphone brand with a 19% volume share, while Xiaomi ranked second with a volume share of 17%. OPPO and Realme ranked fourth and fifth, respectively, in terms of volume share.
However, when you look at the value share figures, you can understand that Samsung is probably going in the right direction. Its value share increased from 21% in 2023 to 22% in 2024. It means that it sold more high-end phones in 2024 than it did in the previous year.
Selling more high-end phones means higher profit. Samsung is now extremely close to Apple when it comes to the overall revenue it generates from its smartphone sales in India. Apple's value share dropped from 24% in 2023 to 23% in 2024.
Counterpoint Research's report says, “Samsung’s premium devices continued to perform well, particularly its S series, which helped the brand gain share in the premium segment.”
In the fourth quarter of 2024, Samsung's volume share (number of units sold) dropped to just 15%. In comparison, Vivo accounted for 20% of all sales, and Xiaomi accounted for 16% of all smartphone sales in India. OPPO ranked fourth with a 14% volume share, while Apple ranked fifth with an 11% volume share.
The value of the Indian smartphone market grew by 5% in Q4 2024, thanks to the demand for premium (high-end) devices and some new launches in December 2024.
It is possible that Samsung could rise to the number one ranking in Q1 2025, even in terms of overall smartphone sales in the country. That could happen due to the launch of the new Galaxy S25 series, which will happen on February 3, 2025.
