LAGOS – Global smartphone sell-through grew YoY for the third consecutive quarter in Q2 2024, continuing its recovery from the weakest year in a decade.
Smartphone sell-through grew 6% YoY in Q2 2024, the highest YoY growth since Q2 2021. Almost all regions showed YoY growth.
The top five brands remained the same as in earlier quarters. Samsung retained the #1 spot, Apple declined marginally YoY and Xiaomi grew the fastest among the top-five OEMs.
Vivo took the top spot in the world’s two biggest smartphone markets – China and India. OPPO narrowly followed vivo, rounding out the top five.
The cumulative share of the top five brands came down slightly as they faced pressures from the next five, mainly Huawei, HONOR, Motorola and TECNO.
Motorola, which has been expanding presence, achieveditshighest-evervolume share in a decade.
Global smartphone sell-through volumes grew 6% YoY in Q2 2024 to record the highest YoY growth in last three years, according to preliminary numbers from Counterpoint Research’s Smartphone 360 Monthly Tracker. Also, this was the third consecutive quarter of market growth, driven by improving consumer sentiment and macroeconomic factors.
Commenting on the global smartphone market’s dynamics, Research Director Tarun Pathak said: “The growth in smartphone sales over the last three quarters is good news for the industry. The sales were at the lowest point in a decade in 2023 but the market was quick to rebound thanks to improving consumer sentiments and inventory positions. Almost all markets exhibited signs of growth and we remain optimistic for upcoming quarters.
“Brands were quick to react to the growing consumer demand and refreshed their portfolios to entice customers further. We are seeing increased proliferation of several features such as CMF (Color-Material-Finish), high-megapixel cameras and 5G into lower price bands, which is further expected to fuel demand. We remain optimistic on future quarters and expect the market to show 4% growth in 2024.”
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