Global Smartphone Shipments Slow to 4% YoY Growth
Explore the global smartphone market trends in July 2024, with slowing growth in shipments and sales, inventory insights, and top brands like Samsung and Apple leading the market.
The global smartphone market saw a slower pace of growth in July 2024. According to research, both smartphone shipments and sales experienced moderate increases, indicating a cooling trend compared to previous months.
Despite the slowdown, inventory levels remained high, suggesting that many major Chinese smartphone manufacturers are still overstocking devices. This overstocking may point to strategic positioning in anticipation of future demand or a response to supply chain challenges.
Samsung continued to lead the market, holding the top position in both shipments and sales. Apple maintained its strong presence, coming in second, while other leading brands such as Xiaomi, vivo, and Transsion followed closely behind. As the smartphone market adjusts to these shifting dynamics, all eyes will be on how major players adapt to the changing landscape in the coming months.
