Global Smartphone Shipments See Big Boost After Hitting Low Point in 2023

Smartphone shipments jumped 6% in the second quarter, the largest year-over-year growth they've seen in the last three years.

This marks the continuation of a significant recovery from 2023, when smartphone sales were as low as they had been in a decade. Counterpoint Research says nearly all markets experienced growth in Q2, with Latin America and Europe leading at 10%.

China's annual 618 shopping festival also likely helped boost numbers, with significant discounts from the likes of Huawei and Apple; the latter slashed iPhone prices by as much as 23% in China in the last two weeks of May, according to CNN. The country is a major focal point for Apple in the months ahead as it looks to boost iPhone 16 sales by 10% over the iPhone 15.

The top five smartphone makers in Q2 were Samsung, Apple, Xiaomi, Vivo, and Oppo, and all five saw a year-over-year increase in smartphone shipments, according to Counterpoint.

"The growth in smartphone sales over the last three quarters is good news for the industry. The sales were at the lowest point in a decade in 2023 but the market was quick to rebound thanks to improving consumer sentiments and inventory positions," says Counterpoint Research Director Tarun Pathak. "Brands were quick to react to the growing consumer demand and refreshed their portfolios to entice customers further."

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According to IDC, the biggest winners this quarter are Xiaomi and Vivo, which saw 27.4% and 21.9% year-over-year growth in smartphone shipments, respectively. Both likely got an assist from the "618" shopping event. Apple and Samsung both saw minor declines despite shipping more units overall, according to IDC's numbers.

For the time being, Samsung leads the way in smartphone shipments with generative AI, per Counterpoint. Samsung launched its Galaxy S24 series of smartphones earlier this year and its latest generation of foldable phones last week. Apple's iPhone 16 with Apple Intelligence is expected in September.

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