Global smartphone shipments increased at a rate of 6%. They recorded a YoY growth rate of 5% to 285.4 million units sold in the second quarter of 2024 (Q2 2024), with Samsung leading the set market for the second consecutive quarter, having surpassed Apple in Q1 2024. It estimates that it has a 9% share of all smartphone shipments.
Samsung maintained the position because it concentrated on its flagships and has a well-planned and executed approach to AI.
Apple occupied the second place and it received 15.8% share to the global tally as well as to enhance their performance in the Chinese market and other major locations. Both the leading companies experienced rather a small increase of their market share YoY, as it has been identified by IDC.
Xiaomi was third in the Q2 2024 on the strength of 14. Alibaba’s focus brandyx has taken the 7th position with 8% share, Vivo is placed at third position but with 9.1% share value and OPPO has occupied the fourth position but they have share value 9.0% only.
Smartphone market uptick
IDC said although Q2 smartphone shipments indicate it is the fourth consecutive quarter of shipment growth and build the momentum toward expected recovery this year, demand has yet to return and continues to be a problem in many regions.
“While recovery is well underway with the top 5 companies all making year-over-year gains, we are seeing increasing competition amongst the leaders and a polarization of price bands,” explained IDC Worldwide Tracker Team Research Director, Nabila Popal.
“As Apple and Samsung both continue to push the top of the market and benefit the most from the ongoing premiumization trend, many leading Chinese OEMs are increasing shipments in the low end in an attempt to capture volume share amidst weak demand.
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“As a result, the share of mid-range devices is challenged.”
Popal noted lots of excitement in the smartphone market today, thanks to higher average selling prices (ASPs) and the buzz created by Gen AI smartphones, forecast to capture 19% of the market with 234 million shipments this year.
Expectations for H2 2024
In such a view, IDC said it anticipates the second half of the year (H2 2024) to be very positive and interesting as competition starts to heat up as the industry’s leading OEMs vie for supremacy.
IDA’s Senior Research Manager for Client Devices in Asia and Pacific, Wong, explained that the increase in Q2 2024 does help to give OEMs some comfort but partially driven by a low compare and overall recovery in the consumer clientele is still happening at a soft level.
“Some OEMs took a less aggressive move in 2Q24 amid the BOM cost pressure, which prompted the companies to refine the product specs or pricing to ensure profitability,” he explained.
In Wong’s view, the second quarter is more like a prelude before more Gen AI smartphones are launched in H2 2024, which would potentially be the next growth driver after 5G and foldable devices.
