Europe's Smartphone Market Recovers Strongly, Samsung and Apple Lead, Transsion Tecno Emerges as a Rising Star

Europe's Smartphone Market Recovers Strongly, Samsung and Apple Lead, Transsion Tecno Emerges as a Rising StarCounterpoint Research's latest market monitoring report shows that the European smartphone market rebounded for the second consecutive quarter in Q2 2024, with shipments increasing by 10% year-on-year. This growth was mainly driven by continued macroeconomic improvements and recovering consumer demand

Europe's Smartphone Market Recovers Strongly, Samsung and Apple Lead, Transsion Tecno Emerges as a Rising Star

Counterpoint Research's latest market monitoring report shows that the European smartphone market rebounded for the second consecutive quarter in Q2 2024, with shipments increasing by 10% year-on-year. This growth was mainly driven by continued macroeconomic improvements and recovering consumer demand. The Western European market grew by 8% year-on-year, while Central and Eastern Europe saw a robust growth of 12% year-on-year, highlighting a strong recovery trend.

Samsung Remains at the Top, Apple Makes a Strong Comeback

Samsung continued to dominate the European market with an 8% year-on-year growth, although its shipments were the lowest since 2015. The Galaxy S24 series continued to lead the trend in the region, while the new Galaxy A series also contributed to its sales. Apple, on the other hand, witnessed a strong rebound, growing by 18% year-on-year, successfully regaining market share. With the launch of the iPhone 16 series in Q3 2024, Apple is expected to see further growth. However, the lack of Apple Intelligence features in the EU region may affect user upgrade speeds.

Xiaomi Affected by Competition in Central and Eastern Europe, Realme and Transsion Tecno Grow Against the Trend

Xiaomi grew by 1% year-on-year in the European market but faced intense competition from other Chinese smartphone manufacturers in Central and Eastern Europe, resulting in a 17% decline in sales. However, a 41% sales growth in Western Europe offset the decline. Realme grew by 18% year-on-year in the European market, capturing a 4% market share. Transsion's Tecno brand emerged as the fastest-growing major brand in the region, with shipments increasing by 196% year-on-year, surpassing Honor to secure the fifth position. Tecno primarily operates in Central and Eastern Europe, especially Russia, and continues to expand its mid-range price point products.

Google Expands Rapidly with New Pixel 8A

Google achieved a 74% year-on-year growth in the European market, driven by its expansion into new markets while continuing to grow in existing ones. The launch of the new Pixel 8A further boosted its sales.

Positive Outlook for the European Smartphone Market

Peter Richardson, Vice President of Research at Counterpoint, stated that the European smartphone market is expected to continue growing in the second half of 2024, driven by seasonal factors, economic recovery, and a low base effect. Flagship launches from Samsung and Apple will further drive market share growth in the premium segment. The premium segment already holds a 25% market share in Western Europe and is gradually growing in Central and Eastern Europe. Emerging players will continue to grab market share, particularly in Central and Eastern Europe, as they introduce new products and focus on the non-premium market. Overall, single-digit growth is expected in the coming years due to the market being primarily driven by replacement demand, while premium smartphones will require longer replacement cycles.

Summary

The European smartphone market saw a strong recovery in Q2 2024, with Samsung and Apple continuing to lead the market, while Transsion Tecno emerged as a significant highlight with its fast-growing momentum. The European smartphone market is expected to maintain steady growth in the coming years, with the premium segment continuing to lead the way, while emerging players will also occupy a significant position in the mid-to-low end market.