Worldwide smartphone market grew 6.5 per cent in the second quarter of 2024

Global smartphone shipments increased 6.5 per cent year-over-year to 285.4 million units in the second quarter of 2024 (2Q24), reported the International Data Corporation (IDC) in their Worldwide Quarterly Mobile Phone Tracker.

Although this marks the fourth consecutive quarter of shipment growth, demand has yet to come around in full and remains challenged in many markets.

“While recovery is well under way 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,” said Nabila Popal, research director for IDC’s Worldwide Tracker, in a press release.

“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. As a result, the share of mid-range devices is challenged.”

The preliminary market results show that Samsung captured the top position in 2Q24 with an 18.9 per cent share of shipments, totalling 53.9 million devices.

Apple finished the quarter in second place with a 15.8 per cent share, representing 45.2 million devices, while Xiaomi placed third with a 14.8 per cent share amounting to 42.3 million smartphones.

OPPO and vivo were statistically tied in fourth position with 9.1 per cent and 9.0 per cent shares respectively, representing 25.9 and 25.8 million smartphones.