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While the global smartphone market has seen some drastic shifts every now and then in terms of sales, it looks like things are back on the rise. Industry research firm Canalys recently published new data indicating that the the market has hit the third quarter streak of year-on-year growth, with a 12% shipment expansion in Q2 2024 of 288 million units.
As far as rankings are concerned, Samsung retained its top spot with 18% market share, followed by Apple with 16% market share. Sitting in third place was Xiaomi with 15% market share (a result of with a 27% annual growth), followed by Vivo and Transsion, both with 9% market share. Commenting on the new development, Canalys Research Manager Amber Liu notes:
“Optimism continues to build in the global smartphone market, fueled by innovative technologies like 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 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.”
Source: Canalys
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