Analysis giant Canalys is sharing some interesting findings regarding the global smartphone market.
As per recently published stats, figures saw record-breaking growth for the third time, marking Q2 of this year as another major era of continued success. The news comes as shipments increased 12% YoY, hitting a massive 288 million units.
The latest data on hand explained how Samsung held the greatest market share with 18% which is slightly less when compared to 2023 where it stood at 21%. Meanwhile, runner-up Apple also declined slightly, going to 16% from its previous 17% stronghold in the industry.
Third place went to Xiaomi which thankfully displayed growth, rising from 13% to 15%, and more growth was also seen with vivo which attained 8%. Meanwhile, TRANSSION stood at the same 9% as seen in the past as did the OTHER category which stood at 33%.
So what gave rise to this massive rise in figures for shipments and plenty of room for growth? The biggest reason is certainly inflation which did end up easing during the first part of 2024 throughout several different regions like Latin America, Asia-Pacific, and even the Middle East. Firms have been trying long and hard to have more people update smartphones while others like OPPO are trying to get more clients from places other than Mainland China.
Experts claim another major reason has to do with innovation where tech trends such as Gen AI have become a part of smartphones which wasn’t there in the past. And only that is a big enough reason to make a change.
Foldable device releases are rolling out in more affordable versions so that again attract the masses.
See, Samsung and Apple are working on making their premium models better with innovation from AI while Samsung’s Foldable and Flip devices are another unique catch that caught many users’ attention as being affordable and unique at the same time. They’re able to blend AI with foldable factors seamlessly and it’s really appealing to tech enthusiasts looking for something different.
Apple is still on the verge of making new product announcements but we’re sure it’s brewing up a storm to compete with archrivals in the industry. The fact that it’s paving the way for AI in its flagship models with the addition of Apple Intelligence for the first time is another major milestone. Fans are waiting to see what it has lined up for them so the wait will surely be worth it.
Thankfully, trends are seeing inflation in big global markets like the US and EU falling in 2024, hitting the 2% target. Moreover, there is discussion about interest rate cuts in the future as well. Certainly, this can give rise to more affordable credit for clients and that could mean seeing a rise in shipments for more phones.
Read next: AI Overviews Hit New Low On Google With Less Than 7% Of Queries On Display
As per recently published stats, figures saw record-breaking growth for the third time, marking Q2 of this year as another major era of continued success. The news comes as shipments increased 12% YoY, hitting a massive 288 million units.
The latest data on hand explained how Samsung held the greatest market share with 18% which is slightly less when compared to 2023 where it stood at 21%. Meanwhile, runner-up Apple also declined slightly, going to 16% from its previous 17% stronghold in the industry.
Third place went to Xiaomi which thankfully displayed growth, rising from 13% to 15%, and more growth was also seen with vivo which attained 8%. Meanwhile, TRANSSION stood at the same 9% as seen in the past as did the OTHER category which stood at 33%.
So what gave rise to this massive rise in figures for shipments and plenty of room for growth? The biggest reason is certainly inflation which did end up easing during the first part of 2024 throughout several different regions like Latin America, Asia-Pacific, and even the Middle East. Firms have been trying long and hard to have more people update smartphones while others like OPPO are trying to get more clients from places other than Mainland China.
Experts claim another major reason has to do with innovation where tech trends such as Gen AI have become a part of smartphones which wasn’t there in the past. And only that is a big enough reason to make a change.
Foldable device releases are rolling out in more affordable versions so that again attract the masses.
See, Samsung and Apple are working on making their premium models better with innovation from AI while Samsung’s Foldable and Flip devices are another unique catch that caught many users’ attention as being affordable and unique at the same time. They’re able to blend AI with foldable factors seamlessly and it’s really appealing to tech enthusiasts looking for something different.
Apple is still on the verge of making new product announcements but we’re sure it’s brewing up a storm to compete with archrivals in the industry. The fact that it’s paving the way for AI in its flagship models with the addition of Apple Intelligence for the first time is another major milestone. Fans are waiting to see what it has lined up for them so the wait will surely be worth it.
Thankfully, trends are seeing inflation in big global markets like the US and EU falling in 2024, hitting the 2% target. Moreover, there is discussion about interest rate cuts in the future as well. Certainly, this can give rise to more affordable credit for clients and that could mean seeing a rise in shipments for more phones.
Read next: AI Overviews Hit New Low On Google With Less Than 7% Of Queries On Display
