Global smartphone market grew 6.5% in Q2, led by Samsung and Apple, IDC says

Global smartphone shipments rose 6.5 percent in the second quarter, driven by Samsung Electronics and Apple, preliminary data from IDC showed on Monday, but a full recovery in demand is yet to come around as it remained challenged in some markets.

Global shipments grew for the fourth consecutive quarter, according to the research firm, as smartphone makers look to artificial intelligence to entice price-wary consumers and capture a larger market share.

There is "lots of excitement" in the smartphone market, thanks to higher average selling prices and the buzz around gen AI smartphones, which are expected to capture 19 percent of the market this year, said Nabila Popal, research director with IDC's Worldwide Tracker team.

"As Apple and Samsung both continue to push the top of the market and benefit the most from the ongoing premiumization trend, many leading Chinese OEMs are increasing shipments in the low end in an attempt to capture volume share amid weak demand," Popal said, adding that the share of mid-range devices is challenged, as a result.

Apple held its developer conference last month where it showcased new AI features for its iPhones powered by OpenAI's ChatGPT.

Samsung also held its Galaxy Unpacked event last week where it announced new models for its Galaxy fold and flip as well as new AI features.

Samsung held the first spot with an 18.9 percent share of shipments in the second quarter, followed by Apple with a 15.8 percent share and Xiaomi with 14.8 percent.