Smartphone Market Grows 8% in Q2 2024: Emerging Markets Lead Recovery
Discover how the global smartphone market grew 7.6% YoY in Q2 2024, driven by emerging markets. Samsung leads with 19% market share, followed by Apple. Explore the latest trends and shifts among top brands.
The global smartphone market grew 7.6% year-over-year in Q2 2024, reaching 289.6 million units. This marks the third consecutive quarter of recovery, driven by strong demand in emerging markets like Africa, Latin America, and Asia-Pacific.
Samsung led the market with a 19% share, followed by Apple at 15%. Chinese brands Xiaomi, vivo, and Transsion rounded out the top five, though their growth rates have started to slow. Samsung and Apple maintained their positions despite increased competition, while Xiaomi's strong performance in emerging markets bolstered its growth.
As the year progresses, the smartphone market is expected to face challenges, including inventory corrections and geopolitical uncertainties. However, the competition among top brands remains fierce, with emerging markets continuing to drive global growth.
