NEEDHAM, Mass., July 15, 2024 – According to preliminary data from the International Data Corporation (IDC) quarterly worldwide mobile phone tracker, global smartphone shipments rose 6.5% year-over-year to 285.4 million units in the second quarter of 2024 (Q224). Although this marks the fourth consecutive quarter of growth in shipments and builds momentum towards the expected recovery this year, demand has not yet fully arrived and remains challenged in many markets.
“While the recovery is well underway with the top 5 companies all making profits year over year, we are seeing increased competition between the leaders and a polarization of price groups. As Apple and Samsung continue to push the top of the market and benefit the most from the ongoing premiumization trend, many major Chinese OEMs are increasing low-end shipments in an effort to capture volume share amid weak demand.As a result, the mid-range device segment is challenged Nabila Popal, senior director of research with IDC’s Worldwide Tracker team. “Still, there’s a lot of excitement in the smartphone market today thanks to higher average selling prices (ASPs) and the buzz generated by Gen AI smartphones, which are expected to grow faster than any mobile innovation we’ve seen to date and we expect to capture 19% of the market with 234 million shipments this year.”
Preliminary market results show that Samsung has taken the top position in 2Q24 with 18.9% share of shipments, thanks to a strategic focus on its flagships and a strong AI strategy. Apple finished the quarter in second place with 15.8% share with improved performance in China and other key regions. Both majors saw modest year-over-year growth. Xiaomi ranked third in 2Q24 with 14.8% share while vivo and OPPO ranked* fourth with 9.1% and 9.0% respectively. Xiaomi and vivo both saw double-digit growth with strong performances in emerging markets and China, while OPPO’s 1.8% increase was due to continued successful expansion outside of China. As competition intensifies, IDC expects a very positive and interesting second half of the year with a close race between the major OEMs.
“Growth in 2Q24 continued to provide some relief for OEMs, although it is supported in part by a low comparison base and the overall recovery is still at a soft pace,” said Will Wong, senior research manager for Client Devices at IDC Asia/Pacific. . “Some OEMs made a less aggressive move in 2Q24 amid BOM cost pressure, which prompted companies to refine product specifications or pricing to ensure profitability. However, Q2 is more like a prelude to more AI-gen smartphones hitting the market in the second half of the year, which will potentially be the next growth driver behind 5G and foldable devices.”
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Top 5 Companies, Worldwide Smartphone Shipments, Market Share and Year-on-Year Growth, Q2 2024 (Preliminary results, shipments in millions of units) |
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company |
2Q24 Shipments |
2T24 Market Share |
2T23 Shipments |
2T23 Market Share |
2Q24/2Q23 Growth |
|
1. Samsung |
53.9 |
18.9% |
53.5 |
20.0% |
0.7% |
|
2. Apple |
45.2 |
15.8% |
44.5 |
16.6% |
1.5% |
|
3. Xiaomi |
42.3 |
14.8% |
33.2 |
12.4% |
27.4% |
|
4. vivo* |
25.9 |
9.1% |
21.3 |
7.9% |
21.9% |
|
4. OPPO* |
25.8 |
9.0% |
25.4 |
9.5% |
1.8% |
|
Others |
92.1 |
32.3% |
90.1 |
33.6% |
2.3% |
|
Total |
285.4 |
100.0% |
268.0 |
100.0% |
6.5% |
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Source: IDC Worldwide Quarterly Phone Tracker, July 15, 2024 |
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* IDC declares a statistical tie in the global smartphone market when there is a difference of 0.1% or less in revenue or shipment share between two or more vendors.
Table notes:
- Data is preliminary and subject to change.
- Company shipments are branded equipment shipments and exclude OEM sales to all vendors.
- “Company” represents the current parent company (or holding company) for all brands owned and operated as a subsidiary.
- Figures represent new deliveries only and exclude refurbished units.
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International Data Corporation (IDC) is the leading global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology markets. With more than 1,300 analysts worldwide, IDC provides global, regional and local expertise on technology, IT benchmarking and sourcing, as well as industry opportunities and trends in over 110 countries. IDC’s analysis and insight help IT professionals, business leaders and the investment community make fact-based technology decisions and achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world’s leading technology media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC AND LinkedIn. Subscribe to IDC Blog for industry news and insights.
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