IDC’s Post

Growth of sub $400 #smartphones in 2Q24, pulled WW #smartphone #ASP down to $393 from $400 last year in 2Q23. This is no surprise as brands like Transsion Xiaomi Technology vivo drove majority of the growth in Q2 (with a special focus on emerging markets like MEA and Latin America) while market leaders Samsung Electronics and Apple showed modest growth. See below for regional trends and insights from Anthony Scarsella on USA and Dr. Ramazan Yavuz on MEA. Will Wong Bryan Ma Francisco Jeronimo Kitty Fok Antonio Wang Kiranjeet Kaur Navkendar Singh Jyoti Lalchandani Eric Prothero Monika Kumar Kevin Brodie Kevin Kane IDC Asia/Pacific IDC Europe IDC IDC | India IDC Japan株式会社 Simon Baker Sami Khairalla

In Q2 2024, global smartphone shipments grew by 6.5% year-over-year to 285.4 million units, marking the fourth consecutive quarter of growth, according to IDC’s Worldwide Quarterly Mobile Phone Tracker. Despite this positive trend, overall demand remains uneven across various markets. Samsung led the market with an 18.9% share, followed by Apple with 15.8%. Xiaomi, vivo, and OPPO followed with 14.8%, 9.1%, and 9.0% shares, respectively. The competition among these top companies is intensifying, with premiumization benefiting Apple and Samsung, while Chinese OEMs focus on lower-end devices to gain volume share. The smartphone market is also experiencing excitement from higher average selling prices and the anticipated rise of Gen AI smartphones, expected to capture 19% of the market by the end of 2024. The regional growth trends indicate high double-digit growth in the Middle East & Africa (MEA) and Latin America, with MEA seeing the highest growth at 19%. In contrast, North America experienced the weakest growth at just 1%. The Asia/Pacific (excluding Japan) region held the largest market share at 26%, while China saw substantial growth at 25%. Moreover, low-end devices priced below $400 have seen some growth in recent quarters, driving momentum in emerging markets. Despite a slight decline in the share of devices priced above $800, these high-end models still hold significant market share, reflecting the ongoing premiumization trend. The average selling price (ASP) of smartphones fluctuated, peaking at $498 in Q4 2023, before declining to $393 in Q2 2024. What will be next steps: 1. Market Polarization and Premiumization: The smartphone market is increasingly polarized, with Apple and Samsung benefiting from the premiumization trend by focusing on high-end models. Meanwhile, Chinese OEMs like Xiaomi, vivo, and OPPO are targeting the lower-end segments to capture market share amid weak demand for mid-range devices. 2. Gen AI Smartphones as Growth Driver: The introduction of Gen AI smartphones is poised to be the next significant growth driver in the industry, potentially outpacing previous innovations like 5G and foldables. These AI-driven devices are forecasted to make up 19% of the market by the end of 2024, indicating a shift in consumer interest and technological advancement in the sector.

Insights on Smartphone market in Q2 2024 across regions

🚀 Western Europe's Smartphone Market: Q2 2024 Insights 📱   Germany and the UK lead the charge in Western Europe's smartphone market for Q2 2024! 📊 While Germany takes the top spot, the UK saw a remarkable YoY growth of 5.2%, showing strong consumer demand recovery. Other key markets like France and Spain also displayed resilience in this evolving landscape.   Dive into our full report to explore the latest trends and market dynamics! Joana Tavares, Data & Analytics Analyst Dr. Ramazan Yavuz, Director EMEA    📉 #Smartphones #MobileMarket #TechTrends #Europe #IDCSpotlight

After several consecutive quarters of rapid growth, the Latin America #smartphone market is beginning to stabilize due to a slight slowdown in growth from Chinese brands, and consumer demand could continue to be affected in the near future by current weak economic conditions. See below for additional insights on the LATAM smartphone market, and follow IDC for continued market updates: https://ow.ly/kosW50UscMB

Just Published: India’s Smartphone Shipments up 3% YoY in July-Sept, Record Highest-ever Value Key takeaways: - In Q3 2024, India’s #smartphone market achieved its highest-ever value, driven by the ongoing trend of #premiumization. - #Samsung led the market in terms of value with a 23% share, followed by Apple with a 22% share. - vivo reclaimed the top spot with a 19% shipment share, followed by #Xiaomi with 17%. - 5G #smartphones captured their highest-ever share of 81% in the overall #shipments. Link to the full note is in the comment below. #technology #insights #research #trends #markets

🚀Trending Up! The Western European smartphone market is witnessing a notable shift towards premiumization. In Q1 2024, average selling prices soared to $692, reflecting a 5.4% YoY growth. High-end devices now dominate, making up 73% of the market share. Dive into the dynamics with our latest IDC Spotlight.

Worldwide #Smartphone Market Forecast to Grow 6.2% in 2024, Fueled by Robust Growth for #Android in Emerging Markets and #China, According to IDC Worldwide #smartphone shipments are forecast to grow 6.2% year-over-year in 2024 to 1.24 billion units, according to the latest International Data Corporation (IDC) Worldwide Quarterly #Mobile #Phone Tracker. This strong growth follows two years of steep declines and is fueled by pent-up demand for device upgrades. While 2024 marks a strong rebound, growth is expected to slow to low single digits from 2025 onward, with a 2.6% CAGR (2023-2028). Contributing factors include increasing smartphone penetration, lengthening refresh cycles, and headwinds from rapidly growing used #smartphone market. "While #GenAl continues to be a hot topic and top priority for many vendors, it is yet to impact demand significantly and drive early upgrades." said Nabila Popal, senior research director with IDC's Worldwide Quarterly Mobile Phone Tracker. "While we continue to believe GenAl will revolutionize the user experience in the years to come, more investments are needed to increase consumer awareness and introduce a 'must have' feature that will rush consumers to the store and create that super cycle which everyone is waiting for. For now, we expect #GenAl #smartphones

Western Europe market is facing huge wave of premiumization as market volumes contract. - #ASP rise to almost $700 - $800+ make up 73% of the market in 1Q24 (from 62% two years ago) - #iOS share also risen from to 36% as #Android players face increasing competition from Apple See more data and insights from our experts below. Simon Baker Dr. Ramazan Yavuz Ranjit Rajan Francisco Jeronimo Bryan Ma Kitty Fok Eric Prothero Will Wong Kiranjeet Kaur Navkendar Singh IDC Asia/Pacific IDC | India IDC | MEA IDC Monika Kumar

Just Published: India’s Smartphone Shipments up 3% YoY in July-Sept, Record Highest-ever Value Key takeaways: - In Q3 2024, India’s #smartphone market achieved its highest-ever value, driven by the ongoing trend of #premiumization. - #Samsung led the market in terms of value with a 23% share, followed by Apple with a 22% share. - vivo reclaimed the top spot with a 19% shipment share, followed by #Xiaomi with 17%. - 5G #smartphones captured their highest-ever share of 81% in the overall #shipments. Link to the full note is in the comment below. #technology #insights #research #trends #markets