Samsung leads the Global smartphone with 20% market share in Q2 2024

Samsung leads the Global smartphone in Q2 2024. In Q2, Samsung topped the rankings with a 20 percent share of shipments, followed by Apple (15.8 percent) and Xiaomi (14.8 percent).

The research group claims that global shipments increased for the fourth straight quarter as smartphone manufacturers turn to artificial intelligence (AI) to win over price-conscious customers and increase their market share.

Samsung leads the Global smartphone with 20% market share in Q2 2024

In the meantime, companies like Vivo, which includes iQOO, and Xiaomi, which has Poco, have steadily increased their market share. Apple and Samsung have both been able to hold onto their earlier positions. The market is anticipated to expand overall in 2024 at a rate of 4%.

The rivalry from growing brands like Huawei, HONOR, Motorola, and Transsion group brands has caused the market share of individual brands to decrease despite the overall rise. The top 10 brands hold 90% of the market, but even more names, like TECNO and HONOR, are gaining traction in new areas. Huawei’s re-entry into the Chinese market is claimed to have had a great effect.

The top five brands with the quickest rate of growth in Q2 was Xiaomi, up 22%. In Q2, Xiaomi’s net ~2% share YoY increase was facilitated by a reduced product range, a greater premium push, and the success of the Redmi 13 and Note 13 series. In Q2, Vivo also beat the market and won the top spot in China and India, the two largest smartphone markets worldwide.

Completing the top five was OPPO, which trailed closely behind Vivo. OPPO hopes to match its strategy with premiumization and boost profitability by introducing more handsets in the mid-to-higher price range. In the near run, this decision might cause problems for market shares, but it could also improve the brand’s profitability.