Asia Pacific Leads Global Smartphone Market, Samsung Tops Q2 2024 - Canalys Data

The Asia Pacific (APAC) region continues to assert its dominance in the global smartphone market, solidifying its position as the leading market worldwide.

According to the latest data from Canalys, this dynamic region has maintained its momentum, driven by strong consumer demand with more than 80 Million units shipped within the territory in Q2 2024 alone, representing 14% year-on-year growth versus Q2 2023. 

The global smartphone market, on the other hand, experienced a robust 12% year-on-year growth in Q2 2024, marking the third consecutive quarter of expansion. With 288 million units shipped worldwide, the smartphone market is showing an upward trajectory and Samsung stands tall as the leading vendor in the said quarter.

Asia Pacific: A Crucial Market

The APAC region, comprising significant markets like China, India, Japan, and Southeast Asia, is pivotal in the global smartphone landscape. Canalys' data highlights that easing inflation in emerging markets across Asia Pacific has significantly stimulated growth in the mass-market price segment. This rebound in consumer demand is further fueled by the region's rapid urbanization, increasing internet penetration, and a tech-savvy population eager to adopt the latest innovations.

Amber Liu, Research Manager at Canalys, notes, “Optimism continues to build in the global smartphone market, fueled by innovative technologies like GenAI and recovering demand from the mass market. Companies, including Xiaomi and TRANSSION, are actively promoting product upgrades to capitalize on these opportunities.”

Samsung: The Top Global Smartphone Vendor in Q2 2024

Samsung has reclaimed its position as the top smartphone brand in the world in terms of units shipped, boasting an impressive 18% market share globally. This success is a result of Samsung's strategic emphasis on the high-end market and its continuous innovation. The launch of the Galaxy Z Fold6 and Flip6 series, which build on the AI capabilities first introduced with the Galaxy S24, exemplifies Samsung's commitment to delivering enhanced user experiences through cutting-edge technology.

Sheng Win Chow, an analyst at Canalys, emphasizes, “Samsung recently launched its Galaxy Z Fold6 and Flip6 series, building on the AI capabilities first introduced with the Galaxy S24 to deliver enhanced experiences on its latest foldable devices. By integrating software innovation with the foldable form factor, Samsung aims to provide differentiated value to users.”

Competitive Global Smartphone Landscape

While Samsung leads, the global smartphone market is characterized by intense competition from several key players. Apple, Xiaomi, vivo, and TRANSSION are significant contenders, each carving out substantial market shares and contributing to the dynamic market environment.

Apple: With a 16% market share, Apple remains a formidable competitor, particularly in affluent urban centers. Despite not announcing new products recently, Apple generated excitement at the WWDC with anticipated product refreshes, highlighting its ongoing leadership in technology innovation.

Xiaomi: Xiaomi has seen remarkable growth, capturing a 15% market share with a 27% annual growth rate, making it the fastest-growing among the top five players. Known for its value-for-money devices, Xiaomi's aggressive pricing and robust online sales strategy continue to resonate with consumers.

vivo: Holding a 9% market share, vivo focuses on expanding its presence outside Mainland China as competition within the domestic market intensifies. Its emphasis on camera technology and sleek designs appeals to younger consumers.

TRANSSION: Also securing a 9% market share, TRANSSION - the company behind Infinix, TECNO, and itel - has capitalized on the growing demand in emerging markets, promoting product upgrades and targeting the mass-market segment effectively.

Future Prospects in Asia Pacific

The outlook for the Asia Pacific smartphone market remains optimistic. The continued rollout of 5G networks is expected to drive further smartphone adoption as consumers seek devices that can leverage faster data speeds and improved connectivity. Additionally, the increasing popularity of mobile gaming and digital entertainment will likely boost demand for high-performance smartphones.

Furthermore, sustainability is becoming an important consideration for consumers. Brands prioritizing eco-friendly practices and offering sustainable product options are poised to gain favor among environmentally conscious buyers in the region.

As the market evolves, innovation, quality, and strategic marketing will be crucial for smartphone brands aiming to succeed in this vibrant region.