The global smartphone market is experiencing a resurgence, according to the latest research from Canalys. Q2 2024 saw a 12% year-on-year increase in shipments, reaching 288 million units. This marks the third consecutive quarter of growth for the industry.
Samsung maintained its position as the global leader, capturing an 18% market share driven by the company’s renewed focus on the high-end segment, and a strategic emphasis on the GenAI technology. Apple remained a close second with a 16% share.
| Vendor | Q2 2024 market share | Q2 2023 market share |
| Samsung | 18% | 21% |
| Apple | 16% | 17% |
| Xiaomi | 15% | 13% |
| vivo | 9% | 8% |
| TRANSSION | 9% | 9% |
| Others | 33% | 33% |
Among the top five, Xiaomi’s growth was the most impressive. Their shipments surged 27% year-on-year, securing a 15% market share. This growth is attributed to their active promotion of product upgrades targeted at the mass market. Similarly, TRANSSION also claimed a 9% market share, joining vivo in the fifth position.
Canalys analysts report easing inflation in emerging markets as a key factor stimulating shipment growth. Companies like Xiaomi and TRANSSION are capitalizing on this opportunity by offering attractive product upgrades.
Meanwhile, HONOR, OPPO, and vivo are shifting their focus outward, expanding beyond Mainland China in the face of intensifying domestic competition.
The premium segment is witnessing rapid advancements, with Samsung and Apple spearheading the charge. Samsung’s recent launch of the Galaxy Z Fold6 and Flip6 series showcased its commitment to GenAI.
While Apple has yet to unveil new products. However, its recent WWDC announcements have generated excitement for upcoming device refreshes.
Source: Canalys
