Positive news for the mobile industry! According to market research firm Canalys, the global smartphone market defied expectations and maintained its growth trajectory for the third consecutive quarter. Q2 2024 saw a healthy 12% year-on-year increase in shipments, reaching 288 million units. This momentum comes after a challenging period for the market, marking a welcome turnaround.
Samsung retained its position as the world’s leading smartphone vendor in Q2 2024, holding an 18% market share. Apple followed closely behind at 16%, showcasing the ongoing rivalry between these tech giants. The dominance of these brands is further solidified by the presence of Xiaomi, Oppo, and Vivo rounding out the top five, each experiencing growth in Q2 2024.
Analysts attribute this positive trend to strong demand across all regions, particularly in North America and Asia Pacific. The increasing popularity of 5G smartphones and the launch of exciting new flagship models from major vendors are also believed to be key drivers of this growth.
Looking ahead, the future of the smartphone market appears bright. Increased demand in emerging markets, the continued global rollout of 5G networks, and the promise of innovative new features are all expected to contribute to sustained growth in the coming years.
