July 15, 2024 – The International Data Corporation (IDC) has unveiled its latest quarterly report on global smartphone shipments, revealing a robust 6.5% year-on-year growth for the second quarter of 2024, totaling 285.4 million units. This marks the fourth consecutive quarter of shipment increases, fueling optimism for the year’s anticipated recovery, albeit with lingering market challenges as demand in several regions remains sluggish.
Nabila Popal, Research Director of IDC’s Worldwide Quarterly Mobile Phone Tracker, emphasized the intensifying competition among market leaders, accompanied by a widening price polarization. “Apple and Samsung continue to dominate the premium segment, reaping the benefits of the ongoing premiumization trend. Meanwhile, numerous leading Chinese Original Equipment Manufacturers (OEMs) are bolstering their low-end shipments to secure market shares amidst weakening demand, posing challenges to the mid-range segment.”
Amidst this landscape, Popal highlighted the excitement generated by the rising tide of Generative AI-infused smartphones. “We anticipate Generative AI smartphones to emerge as the fastest-growing mobile innovation to date, projected to capture 19% of the market share this year, with shipments surpassing 234 million units.”
Key highlights from the report include:
Samsung secured the top spot with an 18.9% market share, shipping 53.9 million units and registering a modest 0.7% year-on-year growth, attributable to its strategic focus on flagship products and robust AI initiatives.
Apple maintained its second position, accounting for 15.8% of the market with 45.2 million shipments, marking a 1.5% increase year-over-year, driven by improved performance in China and other key regions.
Xiaomi solidified its third-place ranking, holding 14.8% of the market share, fueled by a robust 27.4% year-on-year growth and strong performances in China and emerging markets, shipping 42.3 million units.
vivo and OPPO tied for the fourth spot, each claiming 9.1% and 9.0% of the market share, respectively. vivo shipped 25.9 million units, up 21.9% year-on-year, buoyed by its strength in China’s emerging markets. OPPO, on the other hand, registered a modest 1.8% growth, attributable to its successful expansion beyond China, shipping 25.8 million units.
It is noteworthy that IDC considers vendors with a market share difference of 0.1% or less as “tied” in terms of revenue or shipments.
