In most markets, Chinese phones have a sizeable presence but Apple and Samsung have stood on the top as undisputed champions for a long time. While both are still at the top, Xiaomi and Vivo are fast catching up in market share and smartphone shipments.
The latest report from IDC on the worldwide smartphone market shows a 6.5% increase in the second quarter of 2024.
The Top 5 smartphone brands in Q2 2024
Preliminary market results for Q2 2024 show Samsung leading with an 18.9% share of shipments, driven by a strategic focus on flagship models and a robust AI strategy.
Apple secured the second spot with a 15.8% share, benefiting from improved performance in China and other key regions. Both Samsung and Apple experienced modest year-over-year growth.
Xiaomi ranked third with a 14.8% share, while vivo and OPPO were close contenders, holding 9.1% and 9.0% shares respectively. Xiaomi and vivo saw double-digit growth, excelling in emerging markets and China, while OPPO’s 1.8% growth was fueled by successful expansion outside China.
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Xiaomi can soon overtake Apple
Xiaomi is very close to Apple; not just in terms of smartphone shipments but in market share as well. While Xiaomi has a lot of smartphones to offer in all the price categories, Apple primarily exists in the flagship territory.
In Q2 2024, Apple sold 45.2 million units while Xiaomi sold 42.3 million units with a market share of 14.8%. Xiaomi registered a growth of 24.7% in Q2 2024 compared to Q2 2023.
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In the second quarter of last year Xiaomi sold 33.2 million units and this year they sold 42.3 million units, which is amazing! While Vivo has a smaller market share, it registered a growth of 21.7%.
It is not just Xiaomi, vivo and Oppo also have a significant market share and Chinese brands contribute more than 35% of market share globally. While brands like Samsung and Apple have shown a growth of around 1-2%, Chinese brands are growing at much faster pace.
Related: 75% of the Indian Phone Market is captured by only Chinese Brands
Fate of non-Chinese brands
It needs to be seen whether newer brands like Nothing will be able to stand up to Chinese brands in a few years. With a very refreshing design and launch from the Nothing’s CMF brand, the Phone 1 has the potential to shake up the budget segment where most of the Chinese phones rule.
In India, Lava (a homegrown brand) is trying to make headway into the market with some good phones but it still isn’t talked about much or gained a mainstream popularity.
HMD, the makers of Nokia, is also coming back with Lumia inspired Skyline and Sony Xperia is also trying to make a comeback.
It is an interesting time for the smartphones and things might change a lot in this decade.
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