Samsung and Apple have exchanged leadership over the global smartphone market for the past few years, every few months or so, without any other OEMs getting in the way. However, Xiaomi came out of the left field in August and, taking advantage of Apple's temporary decline, snatched its place.

In August, Xiaomi became the 2nd largest smartphone manufacturer by global sell-through market share. It sneaked past Apple, whose market share dropped lower than usual this time of year. Not by much, but it was enough to give Xiaomi the chance to climb to a higher place on the podium.

Hasn't happened since August 2021

Counterpoint Research states that Xiaomi was one of the fastest-growing smartphone brands in the first half of 2024, and even though things might slow down for the company in H2, Xiaomi is expected to record double-digit growth for 2024.

Interestingly, Apple hasn't lost to Xiaomi since August 2021. However, Xiaomi's victory in 2024 might be short-lived. Despite its growth rate, Apple just launched the iPhone 16 series, and that's bound to propel the company back in the 2nd place before the end of the year.

In fact, judging by how Samsung and Apple have exchanged leadership over the past few years, the launch of the iPhone 16 series might even push Apple past Samsung for a few months until Samsung reclaims the top spot, possibly after the Galaxy S25 launch early next year.

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Samsung maintained the lead in August by a wide margin. Samsung also led the global smartphone market for the majority of 2024 so far. But, once again, things might change once the iPhone 16 reaches more customers. The next few weeks and months will be critical.

As for Xiaomi, market watchers say the company's new strategy of releasing “one hero model per price band” may have helped. Either way, Xiaomi remains a strong brand in the sub-$200 segment, and the company is also doing well in the mid-range market.

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