Smartphone market witnesses the highest growth in last 3 years, Samsung remains leader

The smartphone market experienced a much-needed 6 per cent year-on-year growth in the second quarter of 2024. This growth was driven by the sale of generative AI-powered devices. According to Counterpoint Research’s smartphone 360 monthly tracker, it is the highest growth the industry has seen in the last three years.

Markets like Europe and Latin America, which have witnessed double-digit growth, heavily contributed to this growth. The top five brands remain identical to Q1 2024, led by Samsung with a 20 per cent market share, followed by Apple with a 16 per cent market share, while Xiaomi, Vivo, and Oppo are in third, fourth, and fifth positions, respectively.