In the second quarter of 2024, global smartphone shipments increased by 12% year-on-year to 288.9 million units, the third consecutive quarter of growth. According to market research company Canalys, the industry is experiencing a revival due to the launch of innovative products and improved economic conditions.
Samsung strengthened its position as the market leader with an 18% share, shipping 53.5 million devices. The company’s high-end devices continue to drive revenue growth. Apple held on to second place with 45.6 million devices shipped, with strong performance in both North America and Asia Pacific.
Xiaomi is closing in on Apple, taking the third position with 42.3 million devices shipped. The Chinese tech giant’s rapid growth was driven by its competitive product lineup. Vivo regained the fourth place with 25.9 million units, while Transsion, which produces smartphones under the Tecno and Infinix brands, rounded out the top five with 25.5 million units shipped.
Although the overall market is on an upward trajectory, new challenges lie ahead. Component shortages, especially for high-tech features such as large displays and advanced cameras, are starting to affect production costs. This may put pressure on brands focused on the mass market. In addition, it will become increasingly difficult to maintain a competitive advantage as the market evolves.
To stay ahead, industry leaders are focusing on differentiating their offerings. Samsung and Apple are prioritizing long-term strategies in established markets, emphasizing generative AI features in their flagship devices. Chinese brands are also investing heavily in AI technologies to compete in the high-end segment.
As the smartphone market continues to evolve, consumers can expect more AI-powered features, advanced camera systems, and larger immersive displays. However, rising component costs may lead to higher prices for premium devices.
The post Global smartphone shipments up 12% in Q2 2024 first appeared on HiTechExpert.top.