Fast Technology news on July 15th, the latest statistical data from Counterpoint Research shows that the global smartphone market grew by 6% year-on-year in the second quarter of 2024.

This is the highest year-on-year growth rate since the second quarter of 2021, with almost all regions achieving year-on-year growth.

In terms of brands, the top five brands remain consistent with previous quarters. In the second quarter of 2024, Samsung continued to maintain its leading position with a market share of 20%, a year-on-year increase of 5%.

Apple ranked second with a global market share of 16%, a year-on-year decrease of 1%.

Xiaomi was the fastest-growing of the top five brands in the second quarter, with a year-on-year increase of 22%, and its global market share reached 14% in the quarter.

vivo also outperformed the overall market, with a year-on-year increase of 9% and a market share of 8%, ranking first in China and India, the two largest smartphone markets in the world. OPPO ranks fifth, with a share roughly equal to that of vivo.

Counterpoint stated that the cumulative share of the top five brands decreased year-on-year, primarily due to pressure from brands such as Huawei, Honor, Motorola, and the Transsion Group.

On the other hand, the share of the top ten brands is close to 90%, indicating market consolidation and fierce competition among the top ten brands.

Here are the specific data: