Finance App learned that according to the latest research from Counterpoint on monthly smart phone tracking in India in the third quarter of 2024 (July-September), smart phone sales in India increased by 3% year-on-year, with a 12% year-on-year increase in value, setting a new historical quarterly record. The increase in value is due to the ongoing trend of high-end, while the increase in sales is attributed to the holiday season starting earlier this year compared to 2023. Mobile brand manufacturers are actively filling channels to ensure retailers are prepared for the expected sales surge during the holiday period. However, compared to last year, the sales during this year's holiday season started relatively slow.

Senior research analyst Prachir Singh commented on the market value dynamics, stating, "The market is increasingly shifting towards value growth, thanks to the trend of high-end and the significant boost from EMI offers and trade-in promotions. Samsung is currently leading the market with a 23% share in terms of value. The brand has always prioritized its flagship Galaxy S series and enhanced its value-driven product portfolio. Samsung has also integrated Galaxy AI features into its mid-range A series and budget-friendly high-end models, encouraging consumers to upgrade to higher price range products.

Apple (AAPL.US) closely follows Samsung, ranking second with a 22% share of the value market. The brand has actively expanded into smaller cities, driving significant value growth by increasing focus on the new iPhone models. The strong shipment volumes of the iPhone 15 and iPhone 16 before the holiday season further boosted Apple's performance. As consumers invest more in high-end smart phones, Apple, with its premium brand image and expanding market coverage, has strengthened its position as the top choice for high-end buyers in India.

In commenting on market sales dynamics, research analyst Shubham Singh stated, "In the third quarter of 2024, mobile brand manufacturers and channel partners organized multiple sales events. This included parallel offline activities to help some mobile brand manufacturers clear existing inventory, enabling them to fill channel gaps with multiple new products before the holiday season. vivo maintained a healthy inventory level throughout the year, reclaiming the top position in the Indian smart phone market with a 26% year-on-year growth, benefiting from its diversified product portfolio and the successful expansion of the T series. Xiaomi ranked second with a 3% year-on-year growth, mainly due to its balanced development of online and offline channels. OPPO increased by 41% year-on-year, becoming the fastest-growing brand among the top five brands, driven primarily by new product releases and aggressive market strategies."