Canalys’ latest market report indicates sustained growth in the smartphone sector, with shipments increasing 12% year-over-year to reach 288 million units in Q2 2024. This marks the third consecutive quarter of expansion.
Samsung maintained its leadership position, although its advantage over second-placed Apple narrowed to a mere two percentage points. However, Xiaomi and Transsion emerged as the primary beneficiaries of the quarter’s growth.
By aggressively targeting developing markets across Asia-Pacific, the Middle East, Africa, and Latin America, coupled with the easing of inflationary pressures, Xiaomi and Transsion successfully stimulated demand for their products.
Conversely, Honor, OPPO, and vivo are expanding their global footprint to mitigate intensifying competition within the Chinese domestic market. In contrast, Samsung and Apple are doubling down on premium offerings infused with artificial intelligence technology, anticipating heightened growth prospects in this segment.
