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IT Home reported on July 15 that according to preliminary data from Counterpoint Research's Smartphone 360 ​​Monthly Tracking Report, global smartphone sales in the second quarter of 2024 increased by 6% year-on-year, the highest year-on-year growth rate in three years. This is also the third consecutive quarter of growth in the market.

▲ Image source: Counterpoint, same below

IT Home attached the Q2 market share of each brand:

• Samsung mobile phones accounted for 20% of the market share, with sales increasing by 5% year-on-year;

• Apple's smartphone market share was 16%, and its sales volume fell by 1% year-on-year.

• Xiaomi smartphones accounted for 14% of the market share, with sales increasing by 22% year-on-year;

• Vivo mobile phone market share is 8%, and sales volume increased by 9% year-on-year;

• OPPO mobile phones had an 8% market share and sales volume fell 16% year-on-year.

Counterpoint analysis shows that the cumulative share of the top five brands has decreased year-on-year.Mainly due to pressure from Huawei, HONOR, Motorola and Transsion Group brandsOn the other hand, the share of the top ten brands is close to 90%, indicating that the market is consolidating and competition among the top ten brands is fierce.

Ankit Malhotra, senior analyst at Counterpoint, said: “The global smartphone market has entered a new era - a phase of slow and steady growth driven by replacement cycles and now a zero-sum game among mobile phone brands.We expect smartphone sales to grow slowly over the next few yearsHowever, we expect smartphone revenue to grow faster than unit sales due to premiumization across regions and especially the rise of new form factors and features such as foldable displays and GenAI.”

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