Worldwide Smartphone Market Grew 6.5% in the Second Quarter of 2024 as Momentum Continues to Build, According to IDC Tracker
July 15 2024 - 8:30AM
Business Wire
According to preliminary data from the International Data
Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, global
smartphone shipments increased 6.5% year over year to 285.4 million
units in the second quarter of 2024 (2Q24). Although this marks the
fourth consecutive quarter of shipment growth and builds the
momentum towards the expected recovery this year, demand has yet to
come around in full and remains challenged in many markets.
"While recovery is well under way with the top 5 companies all
making year-over-year gains, we are seeing increasing competition
amongst the leaders and a polarization of price bands. As Apple and
Samsung both continue to push the top of the market and benefit the
most from the ongoing premiumization trend, many leading Chinese
OEMs are increasing shipments in the low end in an attempt to
capture volume share amidst weak demand. As a result, the share of
mid-range devices is challenged," said Nabila Popal, research
director with IDC's Worldwide Tracker team. "Still, there is lots
of excitement in the smartphone market today thanks to higher
average selling prices (ASPs) and the buzz created by Gen AI
smartphones, which are expected to grow faster than any mobile
innovation we have seen to date and forecast to capture 19% of the
market with 234 million shipments this year."
The preliminary market results show that Samsung captured 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. The leading companies
both saw modest growth year over year. Xiaomi placed third in 2Q24
with 14.8% share while vivo and OPPO tied* for the fourth position
with 9.1% and 9.0% share respectively. Xiaomi and vivo both saw
double-digit growth with strong performances in emerging markets
and China, while OPPO's 1.8% growth was due to a successful ongoing
expansion outside China. As competition increases, IDC expects a
very positive and interesting second half of the year with a tight
race among the leading OEMs.
"The growth in 2Q24 continued to provide some relief to the
OEMs, though it's partly supported 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
took a less aggressive move in 2Q24 amid the BOM costs pressure,
which prompted the companies to refine the product specs or pricing
to ensure profitability. Nevertheless, the second quarter is more
like a prelude before more Gen AI smartphones are launched in the
second half of the year, which will potentially be the next growth
driver after 5G and foldables."
Top 5 Companies, Worldwide Smartphone
Shipments, Market Share, and Year-Over-Year Growth, Q2 2024
(Preliminary results, shipments in millions of units)
Company
2Q24 Shipments
2Q24 Market Share
2Q23 Shipments
2Q23 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%
Source: IDC Worldwide Quarterly Mobile
Phone Tracker, July 15, 2024
* IDC declares a statistical tie in the worldwide
smartphone market when there is a difference of 0.1% or less in the
share of revenues or shipments among two or more vendors.
Table Notes:
- Data are preliminary and subject to change.
- Company shipments are branded device shipments and exclude OEM
sales for all vendors.
- The "Company" represents the current parent company (or holding
company) for all brands owned and operated as a subsidiary.
- Figures represent new shipments only and exclude refurbished
units.
In addition to the table above, a graphic illustrating the
worldwide market share of the top 5 smartphone companies over the
previous five quarters is available by viewing this press release
on IDC.com.
About IDC Trackers
IDC Tracker products provide accurate and timely market size,
vendor share, and forecasts for hundreds of technology markets from
more than 100 countries around the globe. Using proprietary tools
and research processes, IDC's Trackers are updated on a semiannual,
quarterly, and monthly basis. Tracker results are delivered to
clients in user-friendly Excel deliverables and on-line query
tools.
For more information about IDC's Worldwide Quarterly Mobile
Phone Tracker, please contact Jackie Kliem at 508-988-7984 and
jkliem@idc.com.
Click here to learn about IDC's full suite of data products and
how you can leverage them to grow your business.
About IDC
International Data Corporation (IDC) is the premier 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
offers global, regional, and local expertise on technology, IT
benchmarking and sourcing, and industry opportunities and trends in
over 110 countries. IDC's analysis and insight helps IT
professionals, business executives, and the investment community to
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version on businesswire.com: https://www.businesswire.com/news/home/20240715289324/en/
Nabila Popal npopal@idc.com +1 508-872-8200
Will Wong wwong@idc.com +65 6226 0330
Ryan Reith rreith@idc.com +1 508-935-4301
Michael Shirer press@idc.com +1 508-935-4200