According to a report by Canalys, the global smartphone market hit the third quarter streak of year-on-year (YoY) growth, with a 12 per cent shipment expansion in second quarter (Q2) 2024, reaching 288 million units. Samsung remained the global leader with an 18 per cent market share as it renewed its emphasis on the high-end market as a strategic priority. Apple followed closely with a 16 per cent market share, ranking second. Xiaomi came closely after Apple this quarter with a 15 per cent market share, growing the fastest among the top five players with a 27 per cent annual growth. vivo ranked fourth worldwide with a 9 per cent market share. TRANSSION took the fifth spot this quarter, also with a 9 per cent market share.
Commenting on the report, Amber Liu, research manager, Canalys, said, “Optimism continues to build in the global smartphone market, fuelled by innovative technologies like generative artificial intelligence (GenAI) and recovering demand from the mass market. 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 capitalise 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.”
Furthermore, Sheng Win Chow, analyst, Canalys, said, “Samsung and Apple are rapidly advancing their premium product strategies with GenAI feature as a key focus. Samsung recently launched its Galaxy Z Fold6 and Flip6 series, building on the AI capabilities first introduced with 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.”
