Xiaomi led the Indian smartphone market with a 19.3% share in Q2 2024, surpassing Samsung at 18.5% and Vivo at 17%. The overall smartphone market declined by 4%, while mobile phone shipments dropped by 3% YoY. 5G smartphones surged to 79% of shipments, with Vivo and Samsung leading at 21% and 20% market share, respectively. The market is expected to grow by 7-8% in 2024, driven by strong demand for 5G and AI smartphones. For investors, Xiaomi’s leadership and growth in 5G technology offer promising opportunities.
