On September 4, according to the latest survey by TrendForce, the total number of smartphones produced worldwide in the second quarter of 2024 will be 286 million, a decrease of about 3% from the first quarter, due to the end of the distribution period of new phones of some brands and inventory adjustments at the end of the quarter. Due to weak demand during the peak season, brand manufacturers generally tend to be conservative in their production plans in the third quarter. Therefore, the total number of production in the third quarter is estimated to have only a slight quarterly increase, reaching 293 million, a decrease of about 5% from the same period last year.
Samsung’s smartphone production fell 10% quarter-on-quarter to 53.8 million units in the second quarter as the distribution period of the new Galaxy S24 ended, maintaining its top market share.
Apple, which holds the second largest market share, produced approximately 44.1 million smartphones in the second quarter, a decrease of 8% from the previous quarter, but a 5% increase from the same period in 2023. This can be seen as pre-stocking in response to China’s 618 e-commerce promotion. As Apple’s price reduction strategy in the Chinese market is significant, it is expected to boost production performance in the third quarter. In addition, Apple will release four new models in September, and it is estimated that the total number of new models produced in 2024 will exceed 86 million, an increase of nearly 8% from last year.
Xiaomi (including Redme and POCO) produced 41.8 million smartphones in the second quarter, up 19% year-on-year. Although the brand remains optimistic about the market layout, due to the lack of significant recovery in demand, the production target for the third quarter has only increased slightly, and the company will adjust its inventory cautiously.
OPPO (including OnePlus and realme) saw a 6% year-on-year increase in total production in the second quarter, ranking fourth in market share. TrendForce said that looking ahead to the third quarter, OPPO’s production target is expected to remain the same as in the second quarter.
Vivo (including iQOO) benefited from the launch of new products and successful sales in the Chinese market. Its smartphone production in the second quarter increased by 20.5% quarter-on-quarter and 10.2% year-on-year, ranking fifth in market share. Although Vivo has been actively developing overseas markets in recent years, the Chinese market still accounts for 50% of its sales market share. TrendForce estimates that its total production in the third quarter is expected to be the same as in the second quarter.
