Xiaomi is chasing Apple, Canalys reports that the smartphone market will grow by 12% year-on-year in Q2 2024

News on July 16, market analysis agency Canalys officially announced today the latest statistics of the global smartphone market in the second quarter of 2024, revealing the industry’s steady growth for three consecutive quarters. In this quarter, global smartphone shipments achieved a significant growth of 12% compared with the same period last year, with the total volume climbing to 288 million units, and there are obvious signs of market recovery. fenye1. In this report, the performance of major smartphone manufacturers is equally eye-catching.

2. With its strategic adjustment, Samsung has focused on the high-end market and successfully consolidated its market leadership position, continuing to lead with a market share of 18%.
3. Apple followed closely behind, ranking second with a market share of 16%, demonstrating the continued stability of its brand influence and product competitiveness.
4. It is particularly noteworthy that Xiaomi performed particularly well this quarter, with its market share reaching 15% and achieving a significant growth of 30%, becoming the fastest growing brand among the top five manufacturers year-on-year. This achievement not only demonstrates Xiaomi's strong expansion momentum in the global market, but also reflects its unremitting efforts in promoting product upgrades and meeting consumer needs.
5. vivo also performed well, ranking fourth with a market share of 9%, continuing to consolidate its important position in the global smartphone market.
6. Transsion ranks among the top five with the same 9% market share, demonstrating its deep foundation and rapid growth potential in specific market areas. Amber Liu, research manager of fenyeCanalys, said:
7. "In the context of the continued recovery of the global smartphone market, the continuous emergence of innovative technologies such as generative artificial intelligence (GenAI) and the gradual recovery of mass market demand have jointly promoted the Optimism in the market.
8. Especially since the beginning of 2024, inflationary pressures in emerging markets such as Asia Pacific, the Middle East, Africa, and Latin America have eased, further stimulating the growth of smartphone shipments in the mass market price segment.
9. Many manufacturers. For example, Xiaomi and Transsion are actively seizing this opportunity to meet market demand through product upgrades
10. At the same time, facing fierce competition in the domestic market, brands such as Honor, OPPO and vivo are also accelerating their expansion into the international market and seeking new opportunities. "
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