Samsung retains top position in global smartphone market

Samsung’s AI-powered quantum encryption 5G smartphone, the Galaxy Quantum 5, launching on the 28th. [Courtesy of SK Telecom Co.]

South Korean tech giant Samsung Electronics Co. maintained its top position in the global smartphone market (based on shipments) in the second quarter of 2024 thanks to the Galaxy S24 series, data showed on Thursday.

According to Counterpoint Technology Market Research, global smartphone shipments hit 289.1 million units in the second quarter of the year, up 8 percent from the same period in 2023. By manufacturer, Samsung held the top spot with a 19 percent market share, retaining its lead from the first quarter. Apple Inc. followed in second place with a 16 percent share, while Xiaomi Inc. (15 percent), and OPPO Co. and Vivo Mobile Communications Co. (each with 9 percent) rounded out the top five.

“The recovery in key regions such as Asia and North America contributed to strong growth in smartphone shipments,” the market research firm noted. “Samsung’s growth was driven by the Galaxy A and Galaxy S24 series.”

In the Korean smartphone market, the gap in market share between Samsung and Apple widened even further in the second quarter of 2024 based on sales volume. Samsung recorded a 76 percent market share in Korea in the second quarter, up 1 percentage point from 75 percent in the previous quarter, which was attributable to the launch of mid-to-low-end models. Apple’s iPhone, on the other hand, had a 22 percent share in the second quarter of 2024, down 2 percentage points from the previous quarter.

The gap between the two companies widened from 51 percentage points in the first quarter of 2024 to 54 percentage points in the second quarter.

“Samsung slightly expanded its market share, thanks to its mid-to-low-end models like the Galaxy A15 and Galaxy Buddy 3, while Apple’s sales were constrained by high prices and waiting demand for new product releases,” according to Counterpoint Research.

Samsung plans to apply Galaxy AI to over 200 million Galaxy products in 2024. It is also expected to launch new products such as the Galaxy S24 FE, a quasi-premium model, and the Galaxy Quantum 5, a quantum-secure smartphone, as part of its efforts to maintain its market share.