Samsung retains dominance as global smartphone market leader

The global smartphone market declined by 11 per cent (year-on-year) in Q2 as gloomy demand started to impact market leaders like Samsung and Apple which had to reduce their sell-in the same quarter, according to Canalys.

New Delhi: Samsung maintained the leading position in the global smartphone market with a 21 per cent market share, while Apple held second place with a 17 per cent share in the second quarter (Q2) this year, according to a new report.

The global smartphone market declined by 11 per cent (year-on-year) in Q2 as gloomy demand started to impact market leaders like Samsung and Apple which had to reduce their sell-in the same quarter, according to Canalys.

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Outside of the top two, the decline in smartphone shipments reveals signs of improvement as most vendors’ inventory returns to healthier levels while macroeconomic conditions stabilise.

Xiaomi secured third place with a 13 per cent market share as supply for its newly launched Redmi series recovered.

OPPO (including OnePlus) secured fourth place with a market share of 10 per cent after a strong performance in the core markets of Asia Pacific, while vivo came in fifth with an 8 per cent market share, driven by the new Y-series launches, the report mentioned.

“The smartphone market is sending early signals of recovery after six consecutive quarters of decline since 2022,” said Le Xuan Chiew, analyst at Canalys.

There are indications that vendors are preparing for market recovery in the further future.

“On the other hand, vendors have not stopped investing in manufacturing and have a direct presence in emerging markets like Southeast Asia and India, which will be a strong driving force for sustainable growth,” Chiew noted.

According to analyst Toby Zhu, it is vital for smartphone vendors to stay agile to react to new market signals and allocate their resources effectively.

“Eyes are on the upcoming Android players such as Transsion and Honor, which are determined to act fast in product refreshment and indulge in strategic go-to-market tactics to win over market share,” said Zhu.