Smartphone Market Grows 6.5% in Q2, Led by Samsung, Apple

Samsung Electronics and Apple drove 6.5% growth in global smartphone shipments in the second quarter, provisional IDC data showed on Monday although, demand remains weak in several areas

The research firm reports that global shipments have increased for the fourth consecutive quarter as smartphone manufacturers attempt to attract price-conscious consumers and increase their market share by leveraging artificial intelligence.

Nabila Popal, research director with IDC’s Worldwide Tracker team, stated that the smartphone market is experiencing “a great deal of excitement” as a result of the increased average selling prices and the excitement surrounding generation AI smartphones, which are anticipated to account for 19% of the market this year.

Popal stated that many prominent Chinese OEMs are increasing shipments in the low end to capture volume share amid weak demand, as Apple and Samsung continue to dominate the top of the market and benefit the most from the ongoing premiumization trend. Consequently, the share of mid-range devices is being challenged.

Apple’s developer conference last month featured the introduction of new AI capabilities for its iPhones, which OpenAI’s ChatGPT powers.

Samsung also held its Galaxy Unpacked event last week, unveiling new models for its Galaxy fold and flip and new AI features.
In the second quarter, Samsung occupied the top position with an 18.9% share of shipments, followed by Apple with a 15.8% share and Xiaomi with 14.8%.