Global smartphone market recovers with Samsung, Apple ahead of Chinese brands Xiaomi, Vivo
- In China, the resurgence of Huawei and consumer demand during the midyear 618 shopping festival contributed to growth, Counterpoint Research noted
The global smartphone market grew by 6 per cent year on year in the second quarter, with Apple and Samsung Electronics occupying the top two spots, followed by Chinese brands Xiaomi, Vivo and Oppo, according to a Counterpoint Research report released on Monday.
This marks the best year-on-year growth since the second quarter of 2021, with sales rising across all regions, especially in the European and Latin American markets. In China, the resurgence of Huawei Technologies and consumer demand during the midyear 618 shopping festival contributed to the growth, Counterpoint noted.
“Sales were at the lowest point in a decade in 2023 but the market was quick to rebound thanks to improving consumer sentiment and inventory positions,” Tarun Pathak, a director at Counterpoint, wrote in a note.
Separately, industry research firm IDC’s latest data showed a 6.5 per cent year-on-year increase in global smartphone shipments to 285.4 million units in the June quarter.
IDC said generative artificial intelligence (GenAI) smartphones might become the next growth driver after 5G and foldable devices.
“GenAI smartphones are expected to grow faster than any mobile innovation we have seen to date, forecast to capture 19 per cent of the market with 234 million shipments this year,” Nabila Popal, research director with IDC’s Worldwide Tracker team, said in a recent report.
Xiaomi, the smartphone maker that also placed a big bet on electric vehicles, was the fastest-growing brand among the world’s top five in the second quarter. Its global shipments rose 22 per cent year on year in the period, capturing a 16 per cent market share, trailing only Samsung and Apple, according to Counterpoint data.