Xiaomi's share is close to Apple's, Canalys reports that the global smartphone market will grow by 12% year-on-year in Q2 2024

According to news on July 16, market analysis agency Canalys today released the global smartphone market report for the second quarter of 2024. In the second quarter of 2024, the global smartphone market grew for three consecutive quarters, with shipments increasing by 12% year-on-year, reaching 2.88 billion units.

Summary of manufacturer ranking information:

1. Samsung has refocused on the high-end market and remains in the lead with a market share of 18%.
2. Apple follows closely with a market share of 16%.
3. Xiaomi follows Apple and ranks third with a market share of 15% this quarter, the fastest year-on-year growth among the five major manufacturers.
4. vivo ranks fourth with 9% market share.
5. Transsion also ranked fifth this quarter with a market share of 9%. Amber Liu, research manager at fenyeCanalys, said: "Optimism in the global smartphone market continues to rise, driven by innovative technologies such as generative artificial intelligence (GenAI) and recovery in mass market demand.

Since the beginning of 2024, Asia Pacific, Middle East, The easing of inflation in emerging markets in Africa and Latin America has stimulated the growth of shipments in the mass market price segment. Manufacturers such as Xiaomi and Transsion are actively promoting product upgrades to seize opportunities

At the same time, due to increasingly fierce competition in the domestic market, Honor, OPPO and vivo are focusing on expanding into international markets outside mainland China this year.”

Reference

In the second quarter of 2024, the global smartphone market rebounded for three consecutive quarters, growing by 12% year-on-year

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