The global smartphone market just exploded by 52% to 237.9 million units in the second quarter, according to the most recent figures from IDC. Apple (NASDAQ:AAPL) and Samsung still dominate the overall landscape, but smaller players like LG and Lenovo are gaining traction as they grow volumes off of small bases. Technically, both Apple and Samsung "underperformed" the broader market in terms of unit growth.

In the following video, Evan Niu, CFA, and Eric Bleeker, CFA, discuss the broader context of the smartphone market and where investors should really focus to assess how Apple's faring.

The relevant segment can be found between 8:40 and 11:50.