Oppo and Vivo crack the top 5 list of world's largest smartphone manufacturers
Worldwide shipments of smartphones have been relatively steady YoY according to IDC with a growth rate of just 0.2 percent from 334.4 million units in Q1 2015 to 334.9 million units as of Q1 2016. The stagnant numbers are being blamed on market saturation in developed markets where Apple and Samsung devices are ubiquitous. Nonetheless, even these heavy hitters are selling fewer units this year compared to the same period last year.
IDC has also updated its list of the world's largest smartphone manufacturers and it reveals a few surprises. Notably, the Chinese companies Oppo and Vivo are now in the top 5 ranking with tremendous YoY growth rates to knock both Lenovo and Xiaomi out of the list. Oppo and Vivo control 5.5 percent and 4.3 percent of the smartphone market share, respectively.
As for the other top smartphone manufacturers, Huawei is now even bigger with an estimated YoY growth rate of 58.4 percent to control 8.2 percent of the smartphone market in terms of units shipped. While the Chinese company has solidified its position in third place, it still has a long ways to go to catch up to Apple's 15.3 percent market share.
Gartner recently predicted that the smartphone market will grow by just 7 percent by the end of 2016. Like IDC, its ranking of the top five smartphone manufacturers reveals similar figures.