This is the fourth consecutive quarter of growth for the global smartphone market. According to IDC, smartphones with integrated general artificial intelligence (GenAI) could become the next growth driver, following the success of 5G and foldable screens.

All five smartphone makers are profitable, but competition is getting fiercer than ever. Apple and Samsung continue to lead the market and benefit from consumers' preference for premium smartphones.

Samsung continues to be the leading smartphone manufacturer in the market in the second quarter of 2024

In the second quarter of 2024 alone, Samsung continued to be the market leader in smartphones, shipping 53.9 million devices, accounting for 18.9% of the industry's market share. This success comes from the Korean technology company's focus on flagship products and AI smartphone development strategy.

Behind Samsung is Apple with 45.2 million devices shipped, equivalent to 15.8% market share. The company has gradually improved its performance in China and some other key markets.

The next positions belong to Xiaomi (14.8% market share), Vivo (9.1% market share) and Oppo (9% market share). In which, Xiaomi and Vivo both achieved double-digit growth in the Chinese market and emerging markets.

According to Will Wong, senior director at IDC, "The growth in the second quarter of 2024 has contributed to significantly boosting the activities of smartphone manufacturers. In the second half of this year, the phone market will continue to become more vibrant thanks to the launch of a series of new AI smartphones."