iPhone’s market share remained as the 3rd largest in the global smartphone market in Q2 2019. Samsung maintained its top position, accounting for 23% of the global smartphone market share, followed by Huawei in second place, with 18% share of the market in the same period. The global smartphone market is expected to witness more fierce competition as the dynamics of the smartphone industry is set to witness some significant changes in the coming years providing plenty of opportunity for current market participants to capture a larger share of the market.
Global Smartphone Market Analysis
According to a recent market analysis from Technavio, the global smartphone market size is set to grow steadily at a CAGR of more than 6% by 2021. The world’s leading smartphone companies have been engaging in continuous high competitions to launch new and advanced smartphones. This intense competition combined with the increasing penetration of local smartphone companies has resulted in the global smartphone becoming one of the most volatile industries of all time. In addition, trends such as rising digital literacy and surging purchasing power of consumers, particularly, in emerging economies including India and China, will continue to further drive the demand for smartphones. Moreover, the advent of budget or cost-effective smartphones and the flourishing of 5G coverage around the world will further facilitate the growth of the market over the next five years.
By region, the Asia Pacific currently owns the world’s largest smartphone market share. The rising interest of the consumers in using new technologies in emerging economies especially China, Japan, South Korea, India, and Indonesia will further continue to boost smartphone market demand in the region.
iPhone’s Market Share Remains in 3rd Place
Apple recently announced its Q3 earnings, showing the company’s iPhone revenue dropped. Despite this dip in revenue, Apple’s iPhone still holds the world’s 3rd largest market share among smartphones. Apple shipped 35.3 million iPhones in the second quarter of 2019, down by 14.6% from 41.3 million units one year ago. According to Apple’s announcement, the company generated a total of USD 53.8 billion revenue in Q3 2019, an increase of 1% from the year-ago quarter. Its quarterly profit reached USD 10.04 billion in the same period.
Commenting on the Apple’s Q3 2019 earnings, CEO Tim Cook said: “This was our biggest June quarter ever — driven by all-time record revenue from services, accelerating growth from wearables, strong performance from iPad and Mac, and significant improvement in iPhone trends. These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.” For Q4 2019, Apple forecasts revenue will reach between USD 61 billion and USD 64 billion.
Although Apple no longer reports iPhone, iPad, and Mac unit sales numbers, it does report a revenue breakdown by product category. Here’s Apple’s Q3 2019 earnings breakdown by product category:
iPhone: $25.99 billion
Services: $11.46 billion
Mac: $5.82 billion
Wearables, Home and Accessories: $5.53 billion
iPad: $5.02 billion
Check Technavio’s Global Smartphone Market Report
Check Technavio’s Global Smartphone Market Report for more market insights related to the iPhone market share. This market research report provides the latest market size and market development for major market segments in terms of product types and regional market landscape. The report contains detailed market trends, market drivers, market challenges and key opportunities. In-depth market analysis such as Porter’s five force model, and comprehensive competitive landscape including detailed profiles of top companies are also included in the report.
