India’s smartphone market suffered a sharp divide in the second quarter, with shipments below INR 15,000 falling 45% year on year. Yet Nothing moved in the opposite direction, recording 105% shipment growth despite an overall market decline of 10%.
Counterpoint Research identified Nothing as the fastest-growing smartphone brand in India during the period. The market-wide contraction was the largest shipment decline in six years.
Higher Memory Costs Hit Affordable Phones
Average smartphone prices had risen by about 15% by the end of the second quarter, according to Counterpoint Research. Higher memory and storage costs were the main forces behind the increase.
The impact was most severe in the lower-priced segment, where buyers are more sensitive to price changes. In contrast, smartphones priced above INR 45,000 remained relatively stable as financing options became more widely used.
Counterpoint Research expects India’s smartphone market to decline 13% for the full year as memory prices are expected to keep rising. This outlook makes Nothing’s performance especially notable in a market facing both weaker demand and higher costs.
Phone (4a) Demand Supports Nothing
Demand for the Phone (4a) and Phone (4a) Pro was the central driver of Nothing’s shipment increase. The brand also gained added visibility through its role as the main sponsor of the RCB cricket team.
The result suggests that product demand and brand exposure can still produce growth even when the broader market is under pressure. Nothing’s rise stood apart from the uneven performance reported across several established brands.
| Brand | Q2 Market Share | Change or Note |
|---|---|---|
| vivo | 17.8% | 19.5% when iQOO is included |
| Samsung | 17.6% | Shipments increased 2% |
| Xiaomi | 9.4% | Up from 8% |
| Poco | 4% | Down from 5.4% |
| Oppo, OnePlus and Realme | 26.1% | Combined market share |
Competitive Positions Remain Tight
vivo led India’s market as an individual brand with a 17.8% share. Its share rises to 19.5% when iQOO is counted, although Counterpoint Research tracks the sub-brand separately.
Samsung held 17.6% of the market and was among the major brands that still expanded shipments. Its shipment volume increased 2% from the comparable period.
Xiaomi raised its share from 8% to 9.4%, while Poco declined from 5.4% to 4%. Their combined share nevertheless remained at 13.4%.
Oppo ranked third when brands were viewed individually. However, Oppo, OnePlus and Realme together accounted for 26.1% of the market, giving the group a stronger collective position.
Premium Segment Shows Different Trends
Google recorded the strongest growth in the premium category, with shipments rising 68% year on year. The performance was linked to Google’s decision not to raise device prices.
Apple’s shipments fell 3% year on year, although its market share reached 7%. Chinese brands also recorded their lowest combined second-quarter share since 2020.
With affordable devices taking the heaviest hit from higher component costs, the market is increasingly shaped by pricing pressure and financing access. Nothing’s growth through the Phone (4a) lineup illustrates how sharply brand results can diverge in that environment.
