Vivo Hits New High: Fourth Largest Smartphone Brand Worldwide in Q2 2024
Discover how Vivo soared to fourth place in global smartphone rankings for Q2 2024. Explore their shipment growth, market impact, and strategies for future expansion.
TechInsights has recently released a report highlighting Vivo’s impressive ascent in the global smartphone market for Q2 2024. For the first time, Vivo has secured the fourth position in global smartphone rankings, demonstrating a significant leap from its previous standing. This achievement positions Vivo alongside the industry's leading players: Samsung, Apple, and Xiaomi.
Despite robust shipment numbers, Vivo experienced a decline in average selling prices due to an increased focus on more affordable models. The company's popular Y series and iQOO models contributed to this trend. In contrast, Vivo’s foldable smartphones saw a notable surge in growth, surpassing the broader market for foldables. The company's performance in the 5G segment also exceeded global growth rates, highlighting its competitive edge in emerging technologies.
Vivo’s growth has been primarily driven by its strong presence in the Asia-Pacific region, with China and India playing key roles. However, as competition intensifies, particularly in China, Vivo is encouraged to explore new markets and diversify its geographic footprint to maintain its upward trajectory and drive future growth.
