Hold onto your handsets, folks! The smartphone market it’s rocketing skyward.
Fresh data from Canalys and Counterpoint paints a picture of a sector that regained its mojo.
The global smartphone market is showing strong signs of recovery, according to recent research. Canalys reports a significant 12% year-on-year growth in smartphone shipments, reaching 288 million units in the second quarter of 2024. Meanwhile, Counterpoint’s research indicates a 6% increase in global smartphone sales volume, marking the highest annual growth in three years.
Samsung maintains its position as the global leader with an 18% market share, focusing on the premium segment.
Apple follows closely in second place with a 16% market share.
Xiaomi experienced the fastest growth among the top five players, securing a 15% market share with an impressive 27% year-on-year increase.
Vivo and TRANSSION round out the top five, each holding a 9% market share.
This resurgence in the smartphone market suggests a renewed consumer confidence and potentially signals the industry’s adaptation to post-pandemic market conditions.
Competition also intensifies, particularly in the premium segment where consumers can expect continued innovation with GenAI integration and improved offerings from the leading manufacturers.
