In this article, we explore the 15 smartphone companies with the largest market share in 2024. If you want to skip our detailed analysis, you can go directly to 5 Smartphone Companies with the Largest Market Share in 2024.
Smartphones have become essential in modern life, simplifying tasks, boosting productivity, and enhancing daily activities. They offer seamless connectivity through calls, texts, emails, and social media, and provide easy internet access for browsing, online shopping, and banking. A wide variety of apps cater to productivity, entertainment, education, and health. Additionally, smartphones feature GPS and mapping services for navigation, high-quality cameras for photography and video recording, and are portable for convenient use on the go. They combine the functions of a phone, camera, GPS, and music player into one device, offering access to vast information and educational resources, and tools for managing schedules, tasks, and remote work.
Smartphone sales are poised for growth, particularly in emerging markets like India, Indonesia, and parts of Africa, where demand is increasing. The global rollout of 5G networks is prompting many consumers to upgrade their devices for faster internet and better connectivity. Different smartphone companies are also boosting their revenues by offering premium models with advanced features, which raises the average selling price and enhances profit margins.
Moreover, smartphone companies are expanding their income streams beyond device sales by offering services such as app stores, cloud services, streaming, and accessories. Innovations like foldable screens, augmented reality, and improved cameras continue to draw in consumers. Strong ecosystems like Apple’s iOS and Google’s Android ensure high customer loyalty and repeat purchases. As the global economy recovers, rising consumer spending further drives demand for smartphones. These factors together suggest a promising growth path for the smartphone industry.
In Q2 2024, the global smartphone market grew by 8% compared to the same period last year, marking a strong recovery from earlier declines. This growth is driven by higher consumer demand and improved retail activity. A notable trend is the rise in sales of high-end smartphones. Premium devices, costing over $800, saw a 12% increase in shipments from the previous quarter, thanks to advancements in technology like better cameras and faster processors.
Emerging markets are also contributing significantly to this growth. Shipments to regions such as India and Southeast Asia increased by 15% year-over-year, driven by a growing middle class and more widespread smartphone adoption. Major manufacturers are making significant investments in new technologies and forming strategic partnerships. This investment is part of a broader trend where the average selling price (ASP) of smartphones has risen by 5% from the previous quarter, reaching $345 in Q2 2024. Additionally, a 10% decrease in inventory levels indicates that supply and demand are becoming better balanced.
Our Methodology
To identify the 15 smartphone companies with the largest market share in 2024, we analyzed the latest market research data from Canalys, International Data Corporation (IDC), and Counterpoint Research, focusing on smartphone sales in the first half of 2024. We aggregated sales figures for each company and calculated their market share by dividing their total sales volume by the overall market sales volume. Companies were then ranked based on their market share percentages, and the top 15 with the highest market shares were selected.
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15 Smartphone Companies with the Largest Market Share in 2024
15. LG
Market Share from Q1 until Q2 2024: 1.7%
Total Sales: 3.2 million smartphones
LG ranks 15th in our list of the 15 smartphone companies with the largest market share in 2024. LG Electronics, founded in 1958, is a South Korean multinational electronics company, initially known for home appliances and consumer electronics. LG entered the smartphone market in 2009 with the LG GW620, an Android-based device.
LG sold about 3.2 million smartphones globally, generating $2 billion in revenue in the first half of 2024. The top-selling model was the LG V80 Ultra, which sold approximately 1.5 million units and raised around $1.2 billion. Priced at $799, the V80 Ultra is favored for its high-end features, including a Snapdragon 8 Gen 3 processor, a 64MP quad-camera system, and a 120Hz OLED display, attracting consumers interested in advanced technology.
14. Lenovo
Market Share from Q1 until Q2 2024: 1.8%
Total Sales: 3.6 million smartphones
Lenovo ranks 14th in our list of the 15 smartphone companies with the largest market share in 2024. Established in 1984, Lenovo, a Chinese multinational firm known for its PCs, entered the smartphone market in 2012 with the LePhone. Lenovo’s smartphone business got a 1% market share in the first half of 2024 driven by its diverse range of premium and budget devices, strategic partnerships with major telecom and tech firms, and successful integration of advanced technologies like 5G, which has led to a 12% growth in market penetration in key regions.
Lenovo’s top-selling smartphone for the year is the Lenovo Legion Pro X, which has sold over 5 million units globally. Priced at around $599, the Legion Pro X is favored for its high-performance features, including a powerful processor, advanced cooling system, and a 144Hz refresh rate display, making it a leading choice among consumers.
13. Alphabet Inc. (NASDAQ:GOOG)
Market Share from Q1 until Q2 2024: 2%
Total Sales: 3.8 million smartphones
Alphabet Inc. (NASDAQ:GOOG) landed in the 13th spot in our list of the 15 smartphone companies with the largest market share in 2024. The company entered the smartphone market in 2010 with the Nexus series, transitioning to the Pixel brand in 2016. Alphabet Inc. (NASDAQ:GOOG)’s global market share was 2% in the first half of 2024. Alphabet Inc. (NASDAQ:GOOG) sold approximately 3.8 million smartphones, generating an estimated $2.5 billion in total revenue.
The best-selling model of Alphabet Inc. (NASDAQ:GOOG) was the Google Pixel 8, with around 1.2 million units sold at an average price of $1,050. The company recently received praise for its AI advancements in mobile photography, highlighted by awards at the 2024 Tech Innovations Expo. Alphabet Inc. (NASDAQ:GOOG) also unveiled the Pixel 9 Pro and teased a foldable phone, generating positive anticipation ahead of their August event.
12. Nokia Corporation (NYSE:NOK)
Market Share from Q1 until Q2 2024: 2.2%
Total Sales: 4 million smartphones
Ranking 12th in our list of the 15 smartphone companies with the largest market share in 2024 is Nokia Corporation (NYSE:NOK). Founded in 1865, Nokia dominated early mobile phones and transitioned to smartphones with the Nokia 9000 Communicator in 1996, later adopting Windows Phone and Android.
In the first half of 2024, Nokia Corporation (NYSE:NOK) sold about 4 million smartphones worldwide, largely due to the popularity of its flagship model, the Nokia X40 Ultra. This strong performance helped Nokia Corporation (NYSE:NOK) achieve $4.5 billion in smartphone revenue. The Nokia X40 Ultra, priced at $699, stands out with its advanced features, including a Snapdragon 8 Gen 3 processor, a 108MP quad-camera system, and a 120Hz AMOLED display. Its combination of high performance and competitive pricing has made it a top choice in the premium market segment.
11. ZTE
Market Share from Q1 until Q2 2024: 2.4%
Total Sales: 4.5 million smartphones
ZTE is a Chinese telecom company that entered the smartphone market in 2010 with affordable Android devices. With a market share of 2.4% from global smartphone sales, ZTE grabbed the 11th spot in our list of the 15 smartphone companies with the largest market share in 2024.
ZTE sold about 4.5 million smartphones globally in the first half of 2024. The company achieved $3.8 billion in smartphone revenue, driven by a successful product lineup and competitive pricing. A major contributor to these figures is the ZTE Axon 30 Pro, priced at $649. This flagship model features a Snapdragon 8 Gen 3 processor, a 64MP triple-camera system, and a 144Hz AMOLED display, providing advanced technology and high performance at an attractive price.
10. Asus
Market Share from Q1 until Q2 2024: 2.8%
Total Sales: 5 million smartphones
Ranking 10th in our list of the 15 smartphone companies with the largest market share in 2024 is Asus with a global market share of 2.8%. Asus is a Taiwanese electronics company that entered the smartphone market in 2014 with the ZenFone series.
In the first half of 2024, Asus sold about 5 million smartphones globally and generated $2.9 billion in revenue. This growth is largely due to the company’s effective pricing strategies and successful new product launches. A key driver of these results is the Asus ROG Phone 8, priced at $699. This flagship model is popular for its high-end features, including a Snapdragon 8 Gen 3 processor, a 64MP triple-camera system, and a 165Hz AMOLED display, attracting gaming enthusiasts and tech-savvy users.
9. Sony Group Corp. (NYSE:SONY)
Market Share from Q1 until Q2 2024: 3.5%
Total Sales: 6 million smartphones
Sony Group Corp. (NYSE:SONY) ranks 9th in our list of the 15 smartphone companies with the largest market share in 2024, with a 3.5% market share from global smartphone sales. Sony entered the smartphone market in 2011 with the Xperia series after separating from Ericsson. In the first half of 2024, Sony Group Corp. (NYSE:SONY) sold about 3.7 million smartphones worldwide, generating $2.5 billion in revenue.
A significant contributor to this success was the Sony Xperia 1 V, which sold approximately 1.2 million units. Priced around $799, the Xperia 1 V is popular for its high-end features, including the Snapdragon 8 Gen 3 processor, a 48MP quad-camera system with advanced AI, and a 4K OLED display. These features attract both photography enthusiasts and tech-savvy users. Sony Group Corp. (NYSE:SONY)’s focus on cutting-edge technology, such as enhanced AI capabilities and improved display technology, has set new industry standards and fueled its strong market performance.
8. Huawei
Market Share from Q1 until Q2 2024: 7.1%
Total Sales: 13 million smartphones
Huawei bagged the 8th spot in our list of the 15 smartphone companies with the largest market share in 2024. Founded in 1987, Huawei is a Chinese tech company that entered the smartphone market in 2009 with the U8220 Android phone. In the first half of 2024, Huawei captured about 7.1% of the global smartphone market. The company sold around 13 million smartphones, generating $4 billion in revenue.
The top-selling model during this period was the Huawei Mate 60 Pro, which sold approximately 2 million units and brought in about $1.6 billion. Priced at $799, the Mate 60 Pro stands out for its high-end features, including the Kirin 9000 processor, a 50MP quad-camera system, and a 120Hz OLED display. These advanced specifications have made it a popular choice among consumers seeking premium technology.
7. RealMe
Market Share from Q1 until Q2 2024: 8.2%
Total Sales: 15 million smartphones
Ranking 7th in our list of the 15 smartphone companies with the largest market share in 2024 is RealMe. Realme is a subsidiary of BBK Electronics, launching its first smartphone, Realme 1, in 2018. RealMe’s global market share grew to 8.2% in the first half of 2024. This increase is due to the successful launch of new models and an expanded market presence. During this period, RealMe sold around 15 million smartphones worldwide, generating an estimated $1.2 billion in revenue.
The best-selling phone of the company was the RealMe GT 3 Pro. About 4 million units of this model were sold, contributing approximately $300 million to the company’s revenue, based on its average selling price. Notably, RealMe won the “Best Innovation Award” at the 2024 Mobile World Congress for its advancements in fast-charging technology and AI-enhanced camera features.
6. Oppo (includes OnePlus)
Market Share from Q1 until Q2 2024: 8.7%
Total Sales: 16 million smartphones
Securing the 6th spot in our list of the 15 smartphone companies with the largest market share in 2024 is Oppo with an 8.7% market share. Oppo is a Chinese consumer electronics company that entered the smartphone market in 2011 with the Oppo X903. In the first half of 2024, Oppo achieved a global market share of 8.7% and sold approximately 16 million smartphones worldwide.
The company’s total revenue during this period reached an estimated $1.4 billion, which includes all its products and services. Its best-selling phone was the Oppo Find X6 Pro, with about 4.5 million units sold. Revenue from this model is estimated at $360 million, based on its average selling price. Furthermore, Oppo was honored with the “Best Design Award” at the 2024 Global Tech Awards for its standout smartphone design and user interface innovations.
5. Vivo
Market Share from Q1 until Q2 2024: 10.55%
Total Sales: 18 million smartphones
Vivo ranks 5th in our list of the 15 smartphone companies with the largest market share in 2024. Vivo is also a Chinese tech company that launched its first smartphone, Vivo X1, in 2012. In the first half of 2024, Vivo’s global market share reached 10.55%. The company sold about 18 million smartphones worldwide, generating an estimated $1.7 billion in total revenue, including all products and services.
The company’s best-selling phone was the Vivo X90 Pro. Around 5 million units of this model were sold, contributing approximately $400 million to the company’s revenue based on its average selling price. Additionally, Vivo won the “Best Camera Technology Award” at the 2024 Tech Innovation Summit for its advancements in smartphone camera and imaging technology.
4. Xiaomi
Market Share from Q1 until Q2 2024: 11.2%
Total Sales: 20 million smartphones
Xiaomi ranks 4th in our list of the 15 smartphone companies with the largest market share in 2024. Founded in 2010, Xiaomi entered the smartphone market in 2011 with the Mi 1, focusing on cost-effective, high-performance devices. Xiaomi’s global market share reached 11.2% in the first half of 2024.
The company sold approximately 20 million smartphones and generated an estimated $2 billion in total revenue. The best-selling model was the Xiaomi Mi 13 Pro, with around 5.5 million units sold and $440 million in revenue. Xiaomi also won the “Best Battery Technology Award” at the 2024 Tech Innovations Expo for its advancements in battery efficiency and fast charging technology.
3. TRANSSION Holdings (Tecno, Infinix, iTel)
Market Share from Q1 until Q2 2024: 12.3%
Total Sales: 22 million smartphones
Ranking 3rd in our list of the 15 smartphone companies with the largest market share in 2024 is TRANSSION Holdings. In the first half of 2024, TRANSSION Holdings, which includes Tecno, Infinix, and iTel, achieved a global market share of 12.3%. TRANSSION Holdings sold approximately 22 million smartphones and generated an estimated $2 billion in total revenue.
The Tecno Camon 20 was the company’s top-selling model, with around 6 million units sold and generating about $480 million in revenue. TRANSSION also won the “Best Value for Money Award” at the 2024 Mobile Industry Awards for its high-quality, cost-effective smartphones.
2. Apple Inc. (NASDAQ:AAPL)
Market Share from Q1 until Q2 2024: 18.4%
Total Sales: 35 million smartphones
Apple Inc. (NASDAQ:AAPL) ranks 2nd in our list of the 15 smartphone companies with the largest market share in 2024. Founded in 1976, Apple revolutionized the smartphone market with the introduction of the iPhone in 2007. Apple Inc. (NASDAQ:AAPL) while still performing robustly, saw a decline in sales, dropping to 50.1 million units in the same period.
Apple Inc. (NASDAQ:AAPL)’s global market share reached 18.4% in the first half of 2024. Apple Inc. (NASDAQ:AAPL) sold approximately 35 million smartphones, generating an estimated $45 billion in total revenue. The best-selling model of Apple Inc. (NASDAQ:AAPL) was the iPhone 15 Pro, with around 10 million units sold and $12 billion in revenue. The average selling price of the iPhone 15 Pro is about $1,200. Notably, Apple Inc. (NASDAQ:AAPL) became the first major tech company to achieve carbon neutrality across its entire supply chain.
1. Samsung
Market Share from Q1 until Q2 2024: 19.8%
Total Sales: 38 million smartphones
Samsung tops our list of the 15 smartphone companies with the largest market share in 2024 and reclaimed its position as the top smartphone brand, overtaking Apple Inc. (NASDAQ:AAPL) in the first half of 2024. This comeback was driven by strong sales of the Galaxy S24 series, with Samsung shipping over 60 million smartphones in Q1 2024.
Founded in 1938, Samsung entered the smartphone market in 2009 with the Samsung Galaxy series, becoming a market leader. In the first half of 2024, Samsung’s global market share reached almost 20%. Samsung sold approximately 38 million smartphones and generated an estimated $50 billion in total revenue. The best-selling model was the Samsung Galaxy S24 Ultra, with around 8 million units sold and $7.2 billion in revenue, based on an average selling price of $900. Samsung also won the “Best Display Technology Award” at the 2024 Consumer Electronics Show for its advancements in display innovation.
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Disclosure: None. 15 Smartphone Companies with the Largest Market Share in 2024 is originally published on Insider Monkey.
