The global smartphone market has grown by 12 per cent in Q2 2024, suggests a Canalys research. According to the latest report, the smartphone market continues to witness strong growth in the second quarter, and the overall smartphone shipment reached 288.9 million units, with a one per cent increase. Samsung continues to be the market leader, shipping over 53.5 million units, led by 5G-capable A-series smartphones. Apple comes second, shipping 45.6 million units. Xiaomi and Vivo are in the third and fourth positions with a shipment size of 42.3 million units and 25.9 million units, respectively. Transsion, known for making Tecno and Infinix-branded smartphones, is in the fifth position, with a shipment size of 25.5 million units. Asia Pacific (APAC), including India, remains the biggest smartphone market with a 14 per cent increase (year-on-year) in sales volume, followed by China with a 10 per cent increase. The report further highlights that both Samsung and Apple will continue to solidify their offerings with a long-term strategy to further boost sales in both mature markets, while other brands will eye emerging markets. Global smartphone shipments and annual growth Canalys Smartphone Market Pulse: Q2 2024 Vendor Q2 2024 shipments (million) Q2 2024 market share Q2 2023 shipments (million) Q2 2023 market share Annual growth Samsung 53.5 19% 53.0 21% 1% Apple 45.6 16% 43.0 17% 6% Xiaomi 42.3 15% 33.2 13% 27% vivo 25.9 9% 21.7 8% 19% TRANSSION 25.5 9% 22.7 9% 12% Others 96.2 33% 84.6 33% 14% Total 288.9 100% 258.2 100% 12% Samsung is said to be focusing on offering a robust ecosystem of devices along with AI features to create more value propositions, while Apple will focus on delivering hybrid generative AI experiences with enhanced privacy features. As the demand for smartphones with improved storage, displays, and cameras remains high, brands will come up with regional strategies to cater to the specific demands, and will also continue to invest in market expansion while keeping operational costs low, the report said.
