According to Canalys’ latest research, the global smartphone market hit the third quarter streak of year-on-year growth, with a 12% shipment expansion in Q2 2024, reaching 288 million units.
Samsung remained the global leader with an 18% market share as it renewed its emphasis on the high-end market as a strategic priority. Apple followed closely with a 16% market share, ranking second. Xiaomi came closely after Apple this quarter with a 15% market share, growing the fastest among the top five players with a 27% annual growth. vivo ranked fourth worldwide with a 9% market share. TRANSSION took the fifth spot this quarter, also with a 9% market share.
“Optimism continues to build in the global smartphone market, fueled by innovative technologies like GenAI and recovering demand from the mass market,” said Amber Liu, Research Manager at Canalys. “Since early 2024, easing inflation in emerging markets across Asia-Pacific, the Middle East, Africa and Latin America has stimulated shipment growth in the mass-market price segment. Companies, including Xiaomi and TRANSSION, are actively promoting product upgrades to capitalize on these opportunities. Meanwhile, HONOR, OPPO and vivo are focusing their expansion outside Mainland China this year as competition in the domestic market is heating up.”
“Samsung and Apple are rapidly advancing their premium product strategies with GenAI feature as a key focus,” said Sheng Win Chow, Analyst at Canalys. “Samsung recently launched its Galaxy Z Fold6 and Flip6 series, building on the AI capabilities first introduced with the Galaxy S24 to deliver enhanced experiences on its latest foldable devices. By integrating software innovation with the foldable form factor, Samsung aims to provide differentiated value to users. While Apple has yet to announce new products, the company generated excitement at WWDC around anticipated refreshes coming soon that will likely demonstrate its leadership in technology innovation.”
