Xiaomi registers fastest growth in smartphone shipments, Shenzhen vendors also shine

Xiaomi Corp. registered fast growth in smartphone shipments in the second quarter this year and three Shenzhen-based vendors also recorded strong sales as the global smartphone market kept growing amid improving consumer sentiment.

Beijing-based Xiaomi, known for its rice cookers, robot vacuums, air purifiers and smartphones, grew the fastest among the top five handset makers in the world, shipping 27% more smartphones from April to June compared with the same period a year ago, according to a recent report by Hong Kong-based research firm Counterpoint. 

Xiaomi’s shipments accounted for 15% of the global total in the quarter, followed by its domestic rivals Vivo and Oppo with a 9% share each, the Counterpoint report showed.

Shenzhen-based Huawei, Honor, and Transsion were the other key brands that also gained during the quarter, according to Counterpoint.

Huawei, which has made a strong comeback to the premium smartphone segment since August last year and April this year with the launch of its high-end Mate 60 Pro and Pura 70 phones after U.S. sanctions since 2019 at one time crippled the Chinese tech giant’s smartphone business, continued its strong momentum in China, which was the major reason for its growth. 

Honor, spun off as an independent business from Huawei in 2020 following numerous U.S. sanctions on the Shenzhen-based tech giant, gained in Caribbean, Latin America, Middle East and Africa regions, in addition to having a strong share in China. 

Transsion, which owns TECNO, itel and Infinix brands, performed strongly in Eastern Europe, India, Middle East and Africa. Widely known as the "king of mobile phones in Africa," Transsion has made its fortune by exclusively selling phones in Africa before it has expanded into other markets such as Latin America, India, Eastern Europe and Southeast Asia.

Counterpoint said in its report that global smartphone shipments grew 8% year on year in the second quarter to reach 289.1 million units, the third consecutive quarter the global smartphone market posting growth.

Almost all the regions registered growth, Counterpoint said, adding that the growth was attributed to improving consumer sentiment and macroeconomic conditions.

“Smartphone shipments registered strong growth as key regions continued on a recovery path. Caribbean and Latin America emerged as the fastest growing region as Chinese OEMs continued their aggressive push, helped by increased demand in smaller markets in the region,” said Counterpoint senior analyst Prachir Singh in the report.

“The China market grew thanks to a strong performance in the 618 [mid-year shopping festival] sales, which included significant price discounts including Apple iPhone. And consumer sentiment improved in many European markets, reflected in the growth of smartphone shipments in the region, especially in western Europe, which grew faster than central and eastern Europe. Middle East and Africa also registered single-digit growth due to a more favorable economic environment as well as increasing push from Chinese OEMs.”

For Xiaomi, Middle East, Africa, Caribbean and Latin America regions were the major growth drivers, while the Chinese vendor also gained momentum in its traditional markets like China, India and key Asia-Pacific countries, Counterpoint said.

Samsung held the first spot with a 19% share of the global shipments during the quarter, driven by the strong performance of Galaxy A series as well as continued momentum of Galaxy S24 series. Five models by the South Korean conglomerate were among the top 10 best-selling phones, according to Counterpoint.

Apple’s shipments registered marginal growth after North American carriers reported record low upgrade rates and lower iPhone sales. Apple’s China sales declined 6.5% during the second quarter. The U.S. tech firm offered attractive discounts during the 618 shopping festival, which somewhat boosted its sales, preventing an even more significant decline.

Counterpoint did not provide exact numbers in its report for each vendor’s shipments in the second quarter. But research firm Canalys recently published the actual number of shipments per brand.

Global smartphone shipments rose 12% year on year to 288.9 million units in the second quarter, driven by Samsung Electronics, Apple and Xiaomi, according to data from Canalys.

Samsung sold the most smartphones with 53.5 million units. But the Korean firm’s shipments only rose 1% compared with the year-ago quarter and its 19% market share continues to erode when it was 21% a year ago.

Apple came in second with 45.6 million shipments and a 16% market share. Its shipments grew 6% and its market share dropped 1% compared with the same period a year ago. Xiaomi sold 42.3 million devices for a 15% market share the Chinese firm registered the biggest sales growth of the top five - 27% year on year. Vivo was fourth with 25.9 million shipments and a 9% market share, showing strong 19% annual growth. Transsion sold 25.5 million units to be fifth, sitting at a similar 9% share of the pie. Transsion’s sales grew 12% compared with the year-ago quarter.