In this article, we explore the 5 smartphone companies with the largest market share in 2024. If you want to read our detailed analysis, you can go directly to 15 Smartphone Companies with the Largest Market Share in 2024.
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.
At Insider Monkey, we delve into a variety of topics, however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Analyst Sees a New $25 Billion “Opportunity” for NVIDIA and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
