Apple Remains Top Dog in the Premium Smartphone Market, Huawei Makes a Strong Comeback

Apple Remains Top Dog in the Premium Smartphone Market, Huawei Makes a Strong ComebackAccording to the latest data from market analysis firm Canalys, the global premium smartphone market (over $600) saw growth in the second quarter of 2024, with the top five vendors all experiencing year-on-year increases in shipments.Apple comfortably held the top spot in the premium market with a 62% market share, achieving a 5% year-on-year growth in the second quarter

Apple Remains Top Dog in the Premium Smartphone Market, Huawei Makes a Strong Comeback

According to the latest data from market analysis firm Canalys, the global premium smartphone market (over $600) saw growth in the second quarter of 2024, with the top five vendors all experiencing year-on-year increases in shipments.

Apple comfortably held the top spot in the premium market with a 62% market share, achieving a 5% year-on-year growth in the second quarter. Notably, Apple successfully reversed its decline in the first quarter through the launch of its AppleIntelligence service, demonstrating its strong brand influence and innovation capabilities.

Samsung, fueled by sustained strong demand for its Galaxy S24 series, achieved a 35% year-on-year increase in the second quarter, capturing a 22% market share and securing second place. Samsung maintains a solid position in the premium market, with its products leading in terms of innovation, performance, and design.

Huawei, leveraging continuous efforts in the premium segment, saw an impressive 80% year-on-year growth in the second quarter, claiming the third position and becoming one of the fastest-growing brands during this period. Huawei has showcased a strong comeback in the premium smartphone market, making significant strides in its technological innovation and product competitiveness.

Xiaomi and vivo secured the fourth and fifth positions respectively, maintaining a steady presence in the premium market. Both vendors continue to introduce new products in the premium segment and are actively expanding into overseas markets, displaying strong growth momentum.

Looking at regional markets, Apple maintains its lead across all regions. In mainland China, Apple continues to dominate with a 52% market share; in the Asia Pacific region (excluding Greater China), Apple's shipments grew by 23% year-on-year, achieving a 60% market share; in the Americas (including North and Latin America), Apple holds the top spot with a 72% market share; and in the Europe, Middle East, and Africa region, Apple continues to reign supreme with a 61% market share.

Samsung secured the second position in the Asia Pacific region (excluding Greater China) and the Americas with 34% and 25% market shares respectively, demonstrating its strong global competitiveness.

Huawei's market share reached 30% in mainland China during the second quarter, placing it second, signifying a strong return to its domestic market.

Overall, the global premium smartphone market exhibited positive growth in the second quarter of 2024, with Apple maintaining its top position, followed closely by Samsung and Huawei, showcasing the intense competition in the premium segment. Going forward, major vendors will continue to engage in fierce competition in technological innovation, product design, and marketing efforts to secure larger market shares.