Global Smartphone Market Report for Q2 2024 Growth and Vendor Rankings

TapTechNews July 16th news, the market analysis agency Canalys today released the global smartphone market report for the second quarter of 2024. In the second quarter of 2024, the global smartphone market continued to grow for three consecutive quarters, with a year-on-year increase in shipments of 12% to 288 million units.

TapTechNews summarizes the vendor ranking information as follows:

1. Samsung refocused its strategic focus on the high-end market and continued to lead the world with an 18% market share.

2. Apple followed closely with a 16% market share and ranked second.

3. Xiaomi closely followed Apple and occupied a 15% market share this quarter, increasing by 30% and having the fastest year-on-year growth among the top five vendors.

4. vivo ranked fourth with a 9% market share.

5. Transsion also ranked fifth with a 9% market share this quarter.

Amber Liu, research manager at Canalys, said: Driven by innovative technologies such as generative artificial intelligence (GenAI) and the recovery of mass market demand, the optimism in the global smartphone market continues to rise. Since the beginning of 2024, inflation in emerging markets in Asia-Pacific, the Middle East, Africa and Latin America has eased, stimulating the growth of shipments in the mass market price segment. Vendors including Xiaomi and Transsion are actively promoting product upgrades to seize the opportunity. At the same time, due to the increasingly fierce competition in the domestic market, Honor, OPPO and vivo are concentrating on expanding to international markets outside of mainland China this year.

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