Shipment of ‘Made in India’ smartphones in 2024 rose 6% year-on-year on back of increasing exports by Samsung and Apple, according to a report by Counterpoint.
The two smartphone makers alone accounted for about 94% of India’s smartphone exports.
Samsung, in 2024, retained its position as the top smartphone manufacturer in India with a growth of 7% YoY. It reported an increase of 13% YoY in exports.
“The second spot was taken by vivo, which grew 14% YoY to capture a 14% shipment share due to the expansion in offline retail and strengthening of its distribution network,” Research Analyst Tanvi Sharma said.
According to the report, smartphone manufacturing in India is expected to grow in double digits in 2025, along with increasing local value addition.
“Both the brands (Apple and Samsung) have significantly expanded their manufacturing in India to align with the country’s objective of reducing reliance on imports and strengthening its presence in the global supply chains. The Indian government’s PLI scheme has encouraged global manufacturers to set up or expand their production facilities in the country. All this has resulted in increasing local manufacturing,” the report said.
Apple’s contract manufacturers Foxconn reported a 19% rise in volumes last year due to increased shipments of the iPhone 14, iPhone 15 and iPhone 13 models.
Tata Electronics (earlier Wistron) was the fastest growing smartphone manufacturer in India in 2024 with 107% YoY growth, the report noted, with the iPhone 15 and iPhone 16 models being the major volume contributors for the manufacturer.
The company has expanded its iPhone assembly and has ventured into semiconductor fabrication and OSAT operations. “All these efforts along with acquisitions and diversification in partnerships have positioned the company as a key player in the global electronics supply chain,” the report noted.
Dixon emerged as the top manufacturer in 2024 in the overall mobile handset segment (smartphones and feature phones), the report said.
According to Prachir Singh, Senior Research Analyst at Counterpoint, global smartphone manufacturers are diversifying production to ensure a more resilient supply chain and minimize the risks associated with over-reliance on a single country.
“India presents itself as a great manufacturing destination due to a huge local market, affordable labor costs and favorable schemes from the government focused on increasing local manufacturing. Smartphone manufacturing in India is expected to grow in double digits in 2025, along with increasing local value addition,” he said.
