Global smartphone shipments have seen a notable increase of 6.5% in the second quarter of 2024, according to preliminary data released by International Data Corporation (IDC) on 15th July.
The surge in shipments is attributed to the efforts of leading smartphone manufacturers like Samsung Electronics and Apple. Both companies have been at the forefront of leveraging artificial intelligence (AI) to appeal to price-sensitive consumers and expand their market share.
According to Reuters, Nabila Popal, research director with IDC’s Worldwide Tracker team, highlighted the growing excitement in the smartphone market fuelled by higher average selling prices and the anticipation surrounding next-generation AI smartphones. These AI-enabled devices are projected to capture 19% of the market this year.
Market Dynamics
Popal noted that while Apple and Samsung continue to dominate the premium segment of the market, Chinese original equipment manufacturers (OEMs) are increasingly focusing on the low-end segment to gain volume share amidst the ongoing weak demand. This shift has put pressure on the mid-range device segment, which faces significant challenges.
Apple recently held its developer conference where it unveiled new AI features for its iPhones, powered by OpenAI’s ChatGPT. Similarly, Samsung’s Galaxy Unpacked event last week showcased new models of its Galaxy fold and flip devices, along with enhanced AI capabilities.
In the second quarter, Samsung maintained its lead with an 18.9% share of global shipments. Apple followed closely with a 15.8% share, while Xiaomi secured the third spot with a 14.8% share.
