According to the IDC tracker, the global smartphone market is set to grow by 6.5% in Q2 2024 as momentum continues to grow.

Needham, Lump., July 15, 2024 – Taking into account preliminary information from the Global Knowledge Company (IDC) International Quarterly Cell Telephone Tracker, International smartphone shipments grew by 6.5% in the second quarter of 2024 (2Q24) to reach 285.4 million devices. Even though this marks the fourth consecutive quarter of cargo growth and builds on the momentum from the expected recovery over this period, demand has still not fully recovered and remains a challenge in many markets.

“While the top 5 companies are posting year-on-year gains and the recovery is well underway, we are seeing increased competition among the leaders and polarization of price bands. Apple and Samsung both remain at the top of the market And benefiting most from the ongoing premiumization trend, many major Chinese OEMs have been increasing shipments at the low end in an effort to gain volume share amid weak demand. As a result, the share of mid-range devices has been challenged. Nabila Popal, Director of Analysis for IDC’s International Tracker Group. “Nevertheless, there is a lot of excitement in the smartphone market today due to the high average selling price (ASP) and buzz created by Gen AI smartphones, which are expected to grow faster than any mobile innovation seen to date and capture is forecast to reach 19% market share this year with 234 million shipments.”

Early market impressions show that Samsung took the top spot in 2Q24 with 18.9% of shipments due to a strategic focus on its flagships and a powerful AI technology. Apple finished the quarter on the second playing field with a 15.8% ratio driven by improved efficiency in China and other key regions. Every reputed company witnessed modest growth over time. Xiaomi stood third with 14.8% percentage in 2Q24, Vivo and Oppo Attach* stood fourth with 9.1% and 9.0% percentage respectively. Xiaomi and vivo both saw double-digit growth with strong performances in emerging markets and China, with OPPO’s 1.8% expansion this month driven by ongoing AA hit growth outside China. As the festivities progress, IDC expects a highly definitive and attractive second half of the generation with a good run from some of the major OEMs.

“Growth in 2Q24 has provided some relief to OEMs, although this is partly supported by a lower comparative base and the overall recovery is still slow,” said Will Wong, senior analysis supervisor for consumer gadgets at IDC Asia/Pacific. ” , “Some OEMs took less aggressive steps in 2Q24 amid BOM cost pressures, prompting companies to refine product specifications or pricing to ensure profitability. Still, the second quarter saw more Gen AI smartphone launches. “It’s kind of a prelude to the second half of the year, which will likely be the next growth driver after 5G and foldables.”

, When the percentage of revenue or shipments remaining between two or more vendors is 0.1% or less, IDC announces a figure tied to the global smartphone market.

Desk Notes:

• Knowledge is preliminary and subject to modification.
• Corporate shipments are branded software shipments and do not include OEM gross sales for all distributors.
• “Company” represents the Wave dad or mother corporate (or protected corporate) for all manufacturers owned and operated as a subsidiary.
• Figures reflect fresh shipments as the most effective and do not include refurbished equipment.

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For more information about IDC’s International Quarterly Cell Telephone Tracker, please contact Jackie Kliem at 508-988-7984 and jkliem@idc.com.

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Global Knowledge Company (IDC) is the leading international supplier of market intelligence, advisory services and products, and opportunities to the idea generation, telecommunications and customer creation markets. With more than 1,300 international analysts, IDC provides international, regional and local experience on generation, IT benchmarking and sourcing, and business options and trends in more than 110 countries. IDC’s research and insights are helping IT professionals, business executives and funding families make fact-based generational selections and reach their key business goals. Established in 1964, IDC is a wholly owned subsidiary of Global Knowledge Staff (IDG), the region’s reputed technical media, knowledge and advertising services and products corporate. To know more about IDC please discuss www.idc.com, Practice IDC on Twitter @idc And Linkedin, subscribe to IDC Weblog For business information and insight.

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