12:57 PM EDT, 07/15/2024 (MT Newswires) -- Apple ( AAPL ) maintained its second position behind Samsung in the global smartphone market in the June quarter as worldwide shipments advanced overall year over year, according to International Data Corp.

Global smartphone shipments rose 6.5% annually to 285.4 million units in the second quarter, marking a fourth consecutive quarter of growth. Samsung increased shipments by 0.7% to 53.9 million units and maintained its top position year over year with a market share of 18.9%, even though that reflected a drop from 20% in the second quarter of 2023.

"While recovery is well underway with the top five companies all making year-over-year gains, we are seeing increasing competition amongst the leaders and a polarization of price bands," said Nabila Popal, senior research director on IDC's Worldwide Tracker team.

Apple's ( AAPL ) came in second despite its market share decreasing to 15.8% from 16.6% year over year. Its shipments climbed 1.5% annually to 45.2 million amid "improved performance in China and other key regions," the report showed.

Xiaomi rounded out the top three with its global market share advancing to 14.8% from 12.4%. Shipments grew about 27% year over year.

"As Apple ( AAPL ) and Samsung both continue to push the top of the market and benefit the most from the ongoing premiumization trend, many leading Chinese (original equipment manufacturers) are increasing shipments in the low end in an attempt to capture volume share amidst weak demand," Popal said. "As a result, the share of mid-range devices is challenged."

Apple's ( AAPL ) shares climbed 2.1% in Monday midday trade. The iPhone maker is scheduled to report fiscal third-quarter results on Aug. 1.

Higher average selling prices and the generative artificial intelligence buzz are creating excitement in the industry, according to IDC. GenAI smartphones are forecast to capture 19% of the market this year with 234 million shipments, it wrote.

Price: 234.76, Change: +4.22, Percent Change: +1.83