The 103 million smartphones shipped in Q2 represent a YoY growth of 62% and a QoQ growth of 2.2%. While the annual growth rates and 2H 11 outlooks appear healthy for the industry, Q2 did experience some ‘softness’ in the market, driven by macro-economic conditions, seasonality and a sharper than expected decline in Nokia’s smartphone business.
The perennial leader in smartphone shipments tumbled to 3rd place this quarter with 16.7 million devices shipped. Nokia’s smartphone market share has plummeted from 38% last year and 24% last quarter to only 16% in Q2. Driven by the added distribution muscle of Verizon Wireless and China’s growing appetite for premium smartphones, Apple posted record shipments in Q2 of 20.3 million to become the top smartphone OEM after only four years in the business. Right on the heels of Apple, Samsung had an amazing Q2 with approximately 19 million smartphone shipments and over five million Galaxy S II shipments in its first 85 days.
