IHS: Samsung and Apple Lead 7% Smartphone Market Growth

Samsung Galaxy S8

New data released by IHS Markit reveals that the global smartphone market grew from 320 million units this time last year, to 350.9 million units in Q2 2017, representing a year-on-year growth of 7%.

Samsung’s Galaxy S8 and S8 Plus solidified its position as leader of the pack, with a growth of 11%, though market share declined by 1% from 2016.

Apple grew by 2%, and continues to enjoy high sales of its big-screen iPhone 7 Plus, while consumers eagerly await the next edition of the flagship smartphone later this year.

Huawei, Oppo and vivo take third, fourth and fifth place growth, respectively.

In a dramatic reversal of fortune, Xiaomi has defied a recent trend of decline, seeing a massive boost of 52% growth on 2016 and coming in a very close 6th place behind vivo.

The remainder of the smartphone market declined by 9%, including LG, whose G6 model was unable to provide any kind of boost to the company’s growth.

IHS analysts estimate that forthcoming product launches from Samsung and Apple will boost market growth even further going into 2018.