According to research firm IDC, Samsung had a 29 per cent share of the Indian smartphone market in the April-June 2014 quarter. The company had a 35 per cent share in the previous quarter (Q1 2014).
On the other hand, Micromax has seen its market share grow from 15 per cent in Q1 2014 to 18 per cent in April-June 2014 quarter.
"While Samsung has held on to its leadership position in the market, it is noteworthy that Micromax is growing faster. Samsung needs to continue to address the low-end of the market aggressively, and also needs a blockbuster product at the high end to regain momentum," IDC Vice President and General Manager South Asia Jaideep said.
Given the current growth rates, there is a real possibility of seeing vendor positions change in the remaining quarters this year, he added.
"Micromax not only toppled Nokia to clinch the second spot but also created a gap between the second and the third spot," IDC said.
Earlier this month, research firm Counterpoint, Micromax took the lead over Samsung in the Indian mobile phone market in April-June quarter of 2014.
"Micromax became the leading mobile phone supplier brand in India in Q2 2014 for the first time ever surpassing Samsung capturing 17 per cent market share up from 13 per cent in Q1 2014," Counterpoint Research said.
Micromax was also the second largest smartphone vendor closing in on Samsung, capturing 19 per cent share in this fast growing segment, it added.
In mobiles phones, Samsung's market share stood at 14.4 per cent, while in smartphones the firm still retained the market leader spot with 25.3 per cent share, it said.
"Indian brands together captured more than two-thirds of the total mobile phone shipments and more than half of the smartphone shipments," Counterpoint's analyst Neil Shah said.