CHART: A Look at the Global Smartphone Market in Q2 2024
Global smartphone shipments increased by 6.5% year-over-year, marking the fourth consecutive quarter of growth.
Key highlights:
- Global smartphone shipments increased by 6.5% year over year to 285.4 million units in Q2 2024.
- Samsung led with an 18.9% market share, followed by Apple at 15.8%, both seeing modest year-over-year growth.
- Despite positive trends, IDC notes the recovery is gradual, with challenges in demand across various markets.
In the second quarter of 2024, the smartphone market was all sunshine and rainbow, showing signs of life as all top 5 companies posted year-over-year gains.
Global smartphone shipments increased by 6.5% year over year, marking the fourth consecutive quarter of growth, according to preliminary data from the International Data Corporation (IDC). That translates to a total of 285.4 million units shipped in the quarter.
The quarter also witnessed a notable trend of increasing polarization in price bands. High-end premium phones, such as Samsung and Apple's flagship models, and budget-friendly options from leading Chinese OEMs saw significant growth. In contrast, the mid-range segment, the sweet spot in the middle, was not so sweet, as it faced challenges with declining sales.
Emmanuel Oyedeji
The report also noted an exciting development in the ascent of Gen AI smartphones. These devices are expected to outpace previous mobile innovations, projected to capture 19% of the market with 234 million shipments this year. This surge is fueled by higher average selling prices (ASPs) and the allure of AI capabilities.
