India smartphone market continues to thrive despite economic slowdown, report

Smartphone makers are having a dream run in the India market at a time when global smartphone shipments have been dwindling. India shipped 49 million units of smartphone in Q3 2019, growing 10% YoY (year on year), according to Counterpoint’s latest market report for India.

The smartphone boom also belies the ongoing economic slowdown in India market.

Xiaomi and Samsung continue to be the most sought after vendors with a market share of 26% and 20% respectively. While they retained their leadership, they were not the fastest growing vendors. On the contrary, both companies have lost a bit of their market since Q3 2018, when Xiaomi held 27% market and Samsung 23%. Surprisingly, Xiaomi’s shipments grew YoY at 7% due to high uptake of its 7th gen Redmi Note 7 smartphones on online platforms.