TechInsights: Global smartphone market shipments to grow 12% to 288 million units in Q2 2024

Recently, new data released by TechInsights showed that the global smartphone market has grown year-on-year for three consecutive quarters, with shipments increasing by 12% to 288 million units in the second quarter of 2024. In Q2 2024, Samsung's 5G smartphone market share surpassed Apple, which has been leading the market since the fourth quarter of 2020, for the first time.

Samsung took the lead in market share, achieving a 37% month-on-month growth; Apple ranked second in market share, with a 3.7% month-on-month growth. Xiaomi's market share this quarter followed closely behind Apple, with an annual growth rate of nearly 27%, the fastest growth among the top five manufacturers. Vivo ranked fourth in the world with a 9% market share.

Overall, in the second quarter of 2024, the 5G smartphone market will grow by 24% year-on-year; Motorola is the fastest growing manufacturer, with a year-on-year growth of nearly 200%. The leading regions are Asia Pacific, North America and Western Europe; the leading countries are China, the United States and South Korea.

TechInsights’ latest report, “Global 5G Smartphone Vendor Market Share by Region: Q2 2024,” provides 5G smartphone shipment forecasts for all major regions, including North America, Central and Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, and Africa Middle East.

Image source: TechInsights

Phoenix Technology