Global smartphone sell-through volumes grew 6% year-over-yer (YoY) in quarter two (Q2) of 2024 to record the highest YoY growth in last three years, according to preliminary numbers from Counterpoint Research’s Smartphone 360 Monthly Tracker.
Also, this was the third consecutive quarter of market growth, driven by improving consumer sentiment and macroeconomic factors. According to Counterpoint, Apple’s global sales remained flat but recorded strong YoY growth in Europe and Latin America, which compensated the low upgrade rates in the US and share loss in China following Huawei’s rise.
However, Apple saw improvement in sales in China during the 618 shopping festival where it offered attractive discounts. In the second half of 2024, new iPhones with Apple Intelligence are expected to drive upgrade demand, per Counterpoint.
