IDC released its phone production report for Q2 2024 and trends show the market is recovering as it recorded a 6.5% increase in the same quarter last year. Samsung is at the top with a share of 18.9% followed by Apple (15.8%), Xiaomi (14.8%), Vivo (9.1%) and Oppo (9%).
All five of the world's largest smartphone manufacturers posted positive increases. Xiaomi recorded the highest increase of 27.4% compared to the same quarter last year. According to IDC, the market is undergoing a premium phase where sales of flagship devices are increasing, especially for Apple and Samsung. For manufacturers from China, affordable devices recorded an increase in sales thus impacting the mid-range phone market.
IDC added that smart phones with AI capabilities now contributed to 19% of sales last quarter. This is expected to increase as almost all new devices announced this year are marketed with AI features.
