Huawei ranks third while Apple tops in Q2 2024 global premium phone market

Huawei has hit the top 3 tech vendors list for the Q2 2024 global premium phone market. The Chinese tech giant continues to grow on the worldwide platform, giving a tough spot to its rivals. The situation will likely be more favorable later this year.

A new report by Canalys reveals the growth of global premium smartphone market in Q2 2024. The market reviewer selected the top five tech vendors based on the high-end phone shipment and their market share for the second quarter of this year.

The premium smartphone market refers to phones above $600 price. It is the top-end flagship with advanced capabilities and useful features for an efficient experience.

Inputs show that Huawei captured the third position in the Q2 2024 global premium phone category. The OEM achieved a 9% market share, leading to an overall growth rate of 80% YoY. This surge made the company stand at the top 3 ranking list.

Canalys sees Huawei as one of the fastest-growing brands this quarter in the global market. Devices like Nova 12 and Pura 70 Ultra have achieved huge attention and support from global consumers. Huawei may touch new heights with its upcoming products.

Q2 2024 global premium phone market report (Image Credits: MyDrivers)

Apple and Others

Apple topped the global premium phone market with 62% of market share and 5% annual growth. Samsung obtained second place with a 22% market share and 35% YoY progress. Xiaomi and Vivo have grabbed the fourth and fifth spots respectively.

Good news is that all five smartphone makers have achieved positive growth in Q2 2024. Apart from the global market, the research firm shared the data for China as well.

In the native region, Huawei has appeared in the second position with 30% of the market share and a growth of 82% YoY. Even though Apple is at first, its annual progress dropped by 7% following the heavy competition in the Chinese market.

Q2 2024 Chinese premium phone market report (Image Credits: MyDrivers)

Xiaomi and Vivo captured the third (50% YoY growth) and fourth (48% YoY growth) grades respectively. Both tech vendors account for 4% of the market share.

In other regions like Asia-Pacific, America, Europe, the Middle East, and Africa, Apple is dominating the premium phone market with iPhone 15 Pro models. Samsung is also closely following the iPhone maker at second rank.

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