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Seoul, Taipei, Beijing, London, Denver, Boston, Toronto, New Delhi, Hong Kong – July 29th, 2021
Global smartphone shipments declined by 7% QoQ in Q2 2021, according to the latest research from Counterpoint’s Market Monitor service. This was primarily due to ongoing component shortages as well as the implementation or extension of COVID-19 restrictions across Asia and Europe. Shipments, however, grew by 19% YoY as inoculation rates increased in several major economies preventing the need for lockdowns as stringent as those seen in the same quarter of last year.
Commenting on OEM rankings, Research Director, Tarun Pathak noted, “While Samsung retained the top spot, its market share fell by over 3% to 18% in Q2 2021. Shipments were down due to weak seasonal demand in some of its key regions such as India, Central and Latin America and Southeast Asia followed by production disruption in Vietnam due to COVID-19. Xiaomi had its best-ever quarter as it was able to increase its market share in China, Southeast Asia and Europe. While Apple fell to the third spot, it captured record second-quarter shipments thanks to persistent demand and supply for its iPhone 12 series. OPPO and vivo retained their spots in the top five as OPPO continued expanding to overseas markets and vivo managed to lead the China market for the second quarter in a row.”
Highlighting the revenue dynamics, Research Analyst, Aman Chaudhary noted, “Global smartphone wholesale shipment revenues eclipsed $96 billion*, up 25% YoY but declined 16% sequentially. This comes at a time when the industry was facing supply constraints. Apple captured a record second-quarter revenue share of 41% driven by continuing demand for the iPhone 12 Series followed by Samsung, OPPO, Xiaomi and vivo. However, Xiaomi had a strong quarter in terms of revenue as well, becoming the only brand within the top five to grow its revenue sequentially. It captured its highest-ever revenue share of over 9% driven by the strong performance of Redmi Note and the Mi 11 series.”
Commenting on Xiaomi’s record shipments, Senior Analyst, Harmeet Singh Walia noted, “Xiaomi crossed 50 million shipments for the first time ever driven by a combination of premium and low-to-mid price segment devices. Xiaomi’s exceptional performance comes despite a decline in India due to the spread of new COVID-19 variants. The increased shipments can be attributed to its growth in regions including Europe, Southeast Asia and Central and Latin America where it captured market share vacated by Samsung and Huawei. Southeast Asia and Europe were bright spots for Xiaomi as demand for mid-tier devices increased during the quarter.”
Key Takeaways:
*Preliminary revenue, based on wholesale pricing.
Note: All shipments are preliminary and subject to change.
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You can also visit our Data Section (updated quarterly) to view the smartphone market share Globally and from the USA, China, and India.
Some of our other regional smartphone market analysis for Q2 2021 can be found below:
India Smartphone Market Stays Resilient During Second COVID-19 Wave, Crosses 33 Million Shipments
China Smartphone Market Sees Lowest Q2 Sales Since 2012; vivo Leads as Huawei Plummets
Background:
Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.
Analyst Contacts:
Tarun Pathak
Harmeet Singh Walia
Aman Chaudhary
Varun Mishra
Karn Chauhan
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