In the second quarter of 2024, both Apple Inc. and Samsung Electronics Co. witnessed an increase in smartphone shipments. However, despite this growth, their overall market shares declined due to fierce competition from Chinese rivals.
According to a recent IDC report, Apple’s iPhone shipments rose by 1.5% from the previous year to reach 45.2 million units. Similarly, Samsung experienced a 0.7% increase in shipments, reaching 53.9 million units. Despite these positive figures, Apple’s global market share dropped from 16.6% to 15.8%, while Samsung’s share fell from 20.0% to 18.9%.
Chinese smartphone makers, on the other hand, saw a surge in their market shares. Xiaomi Corp. witnessed a rise from 12.4% to 14.8%, while Vivo’s share increased from 7.9% to 9.1%. Xiaomi’s global smartphone shipments grew by 27% to 42.3 million units, securing the third position, followed by Vivo with approximately 22% growth and 25.9 million units shipped, placing them fourth.
Apple’s improved performance can be attributed to stronger sales in countries like China, while Samsung’s boost in shipments resulted from its focus on flagship models and the integration of artificial intelligence into its products.
The rise of Chinese smartphone makers has been an ongoing trend. In the first quarter of 2024, Apple experienced a 10% decline in iPhone shipments, while its Android competitors witnessed growth, leading to a sales decline for Apple in China. However, the company managed to reverse this decline with impressive shipment growth in March.
Furthermore, in the first quarter of 2024, Huawei Technologies surpassed Samsung in global foldable smartphone shipments for the first time, marking a significant market shift. The global foldable smartphone market experienced a 49% year-over-year increase, primarily driven by substantial shipment growth from Chinese OEMs.