Not less than 285.4 million units of smartphones were shipped globally in the second quarter (Q2) of 2024, data from the International Data Corporation (IDC) has revealed.
According to the preliminary report released on Monday, Samsung, which overtook Apple in Q1, (due to its focus on AI smartphones), maintained the top position in Q2 2024 with an 18.9 per cent share of shipments.
The data revealed that Apple finished the quarter in second place with a 15.8 per cent 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 a 14.8 per cent share while vivo and OPPO tied for the fourth position with 9.1 per cent and 9.0 per cent, respectively.
According to IDC, while Q2 shipments represented the growth in shipments for the fourth consecutive quarter and provided impetus for this year’s anticipated rebound, demand has not fully recovered and remains challenged in many markets.
Research director at IDC’s Worldwide Tracker team, Nabila Popal, said, “While recovery is well underway with the top 5 companies all making year-over-year gains, we are seeing increasing competition amongst the leaders and a polarisation 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.
Popal, however, noted that 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 have been forecast to capture 19% of the market with 234 million shipments this year.
IDC said it expects a very positive and interesting second half of the year with a tight race among the leading OEMs as competition increases.
Senior research manager for Client Devices at IDC Asia/Pacific, Will Wong, said the growth recorded in Q2 2024 continued to provide some relief to the OEMs, though it is partly supported by a low comparison base and the overall recovery is still at a soft pace.
“Some OEMs took a less aggressive move in 2Q24 amid the BOM cost pressure, which prompted the companies to refine the product specs or pricing to ensure profitability,” he said.
According to Wong, the second quarter is more like a prelude before more Gen AI smartphones are launched in the second half of the year, which would potentially be the next growth driver after 5G and foldable.
