The shipment of ‘Made-in-India’ smartphones grew by six percent year-on-year (YoY) in 2024 primarily due to increase in exports by Samsung and Apple. As per a new report, together the two tech company accounted for almost 94 percent of the smartphones exported from India in 2024.
The report attributes this trend to the two companies expanding their manufacturing capabilities to avail the benefits offered by the government’s PLI (Production Linked Incentive) scheme.
- Samsung continued to maintain its position as one of the leading manufacturers in India in 2024. As per a report by Counterpoint India, the company registered a growth of seven percent YoY by increasing its exports.
- The second spot was occupied by Vivo, which registered a growth of 14 percent YoY. It also captured a 14 percent market share by strengthening its distribution network and expanding its offline retail program.
- As per the report, Foxconn’s shipment volume increased by 19 percent YoY in 2024. This growth was primarily driven by Apple. Foxconn captured third spot in terms of the market share.
- OPPO, on the other hand, slipped to fourth position in 2024. It had captured a 19 percent market share in 2023, which decreased to 12 percent in 2024.
- The report attributes this decline to stiff competition from other brands and the company increasing the contract manufacturing work for OPPO and realme.
- Furthermore, the report says that Tata Electronics became the fastest growing electronics manufacturer in 2024 and that it registered a growth of 107 percent YoY.
- This growth can be primarily attributed to the increase in manufacturing of the iPhone 15 and the iPhone 16 smartphones.
- Tata Electronics has also expanded its iPhone manufacturing capabilities, setup a new semiconductor fabrication plant in Dholera, Gujarat, and is building an OSAT (Outsourced Semiconductor Assembly and Test) plant in Assam. These factors coupled with the acquisitions and diversified partnerships contributed to its growth in the past year.
- Interestingly enough, Dixon emerged as the top manufacturer in India in 2024 due to strong shipments from companies like Motorola and Translon, which is the parent company for brands like Infinix, Itel and Tecno.
- Dixon registered a growth of 39 percent YoY in 2024.
- Lastly, the report says that smartphone manufacturing in India is expected to witness a double digit growth in 2025
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