Canalys: Smartphone market keeps growing for a third quarter in a row

Canalys's latest market report shows that the smartphone market reached a third consecutive year-on-year growth in Q2 2024. Shipments were 288 million between April and June, 12% more than last year.

Samsung kept the lead in, but its lead over Apple in second is now just 2 percentage points. However it was Xiaomi and Transsion that actually gained the most, the analysts claim.

Both OEMs actively promoted their devices in developing markets such as Asia-Pacific, the Middle East, Africa, and Latin America, and easing inflation is helping them push product upgrades.

Honor, Oppo, and vivo are working on expanding their presence outside Mainland China as the domestic market is heating up. Samsung and Apple are betting everything on premium products with AI, expecting to find more growth there.

Source