The worldwide smartphone market experienced a 12% increase in shipments during the second quarter of 2024, reaching a total of 288 million devices, according to Canalys. This marks the third consecutive quarter of year-on-year growth.
In the second quarter, Samsung maintained its position as the global leader with an 18% market share, as it reaffirmed its strategic emphasis on the high-end market. Apple is the runner-up, following closely with a 16% market share.
Xiaomi followed Apple during the quarter, gaining 15% of the market. It had the fastest growth rate among the top five players, with a staggering 27% annual increase. Vivo was rated fourth globally, with a 9% market share. Transsion followed closely behind, with a 9% market share.
"Optimism continues to build in the global smartphone market, fueled by innovative technologies like GenAI and recovering demand from the mass market," said Amber Liu, research manager at Canalys. "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."
"Samsung and Apple are rapidly advancing their premium product strategies with GenAI feature as a key focus," said Sheng Win Chow, analyst at Canalys. "Samsung recently launched its Galaxy Z Fold6 and Flip6 series, building on the AI capabilities first introduced with the 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."
