Global smartphone shipments increased by 7.8% to 289.4 million units in the first quarter of 2024, marking the third consecutive quarter of growth and signaling a recovery in the industry. According to the International Data Corporation, Samsung reclaimed the top spot in smartphone shipments, surpassing Apple in the first quarter of the year. While Apple and Samsung are expected to maintain their positions in the high-end market, other players like Huawei, Xiaomi, Transsion, OPPO/OnePlus, and vivo are gaining momentum, leading to a shift in power among the top 5 companies.
The smartphone market is evolving post-recovery, with consumers opting for more expensive devices and holding onto them longer. This trend has led to growth in the value and average selling prices of smartphones. Xiaomi has made a strong comeback after experiencing declines in the past two years, while Transsion is establishing itself in the top 5 with rapid growth in international markets. Although both Apple and Samsung saw negative growth in the first quarter, Samsung is positioned stronger overall compared to recent quarters. As smaller brands struggle for positioning, the top companies are expected to gain more market share in the coming quarters.
The Worldwide Quarterly Mobile Phone Tracker provided by IDC offers accurate and timely insights into the smartphone market, helping businesses make informed decisions. With more than 1,300 analysts worldwide, IDC offers expertise in technology markets and trends, enabling IT professionals and business executives to make fact-based decisions. As the smartphone market continues to recover and evolve, companies need to adapt their strategies to stay competitive and meet changing consumer demands.
