Canalys’ latest market report shows that the smartphone market posted its third consecutive year-on-year growth in Q2 2024, with 288 million devices shipped between April and June, up 12% year-on-year.
Samsung retained the lead, but its lead over Apple in second place is now only 2 percentage points. However, it was Xiaomi and Transsion that gained the most, the analysts claim.
Both OEMs are actively promoting their devices in developing markets such as Asia Pacific, the Middle East, Africa and Latin America. The declining inflation is helping them to stimulate product upgrades.
Honor, Oppo and vivo are working to expand their presence outside China as the domestic market heats up. Samsung and Apple are betting big on premium AI-powered products, expecting more growth there.
| Company | Q2 2024 Market Share | Q2 2023 Market Share |
| Samsung | 18% | 21% |
| Apple | 16% | 17% |
| Xiaomi | 15% | 13% |
| living | 9% | 8% |
| Transition | 9% | 9% |
| Others | 33% | 33% |