New Data from Canalys Analysis Firm: Global Smartphone Market Continues to Grow

Canalys, the analysis firm, reported the latest developments in the global smartphone market. The market, which saw growth for the third consecutive quarter in the second quarter of 2024, reached 288 million units, an increase of 12% compared to the previous year.

Samsung reduced its market share from 21% to 18% last year, while Apple declined from 17% to 16%. On the other hand, Xiaomi rose from 13% to 15%; vivo increased from 8% to 9%. TRANSSION remained at 9%. Small manufacturers in the other category account for 33% of total shipments.

There are several reasons behind the increase in smartphone shipments. The impact of easing inflation in Asia-Pacific, the Middle East, Africa, and Latin America is significant. Xiaomi and TRANSSION encourage people to upgrade their phones, while HONOR, OPPO, and vivo aim to grow in new markets.

The Impact of Artificial Intelligence and New Technologies
According to Canalys, another factor supporting smartphone sales is the integration of innovative technologies such as artificial intelligence into phones. This can be an encouraging factor for some users to purchase a new phone. Additionally, foldable phones create excitement among consumers and drive new phone purchases.