Global smartphone sell-through volumes grew 6% YoY in Q2 2024, marking the highest growth in three years and the third consecutive quarter of market growth. Europe and Latin America led the growth, while Huawei’s comeback boosted the Chinese market. Research Director Tarun Pathak attributed the growth to improving consumer sentiment, better inventory positions and increased demand for features like high-megapixel cameras and 5G in lower price bands. Samsung retained its top spot, driven by the Galaxy S24 series and Galaxy A series. Apple saw strong growth in Europe and Latin America, while Xiaomi was the fastest-growing brand. The cumulative share of the top five brands declined due to competition from brands like Huawei and Motorola. Senior Analyst Ankit Malhotra noted the market’s shift to slow and steady volume growth, driven by replacement cycles and premiumization.
Read more – https://www.counterpointresearch.com/insights/global-smartphone-market-q2-2024/
