Samsung, the world’s largest smartphone manufacturer, has regained it’s position at the top, which comes as no surprise. After briefly being overtaken by Apple in Q4 2023, Samsung has emerged as the leader in smartphone shipments for Q1 2024. Both Apple and Samsung experienced declines in market share during Q1 2024, with Apple losing approximately 10 percent of it’s market share compared to Samsung’s modest decrease of 0.7 percent.
According to a report from the International Data Corporation (IDC), Samsung has reclaimed it’s top position, a position it has held since 2010. In Q1 2024, Samsung shipped approximately 60.1 million smartphones globally, representing 20.8 percent of the global smartphone market share. Apple follows behind as the second-largest smartphone OEM globally, shipping 50.1 million smartphones in Q1 2024, accounting for 17.3 percent of the global smartphone market share.
Despite Apple’s reliance on iPhone sales, it performed better last year, particularly in Q4 2023. The Cupertino-based smartphone maker shipped 55.4 million smartphones in Q4 2023, with it’s market share also higher than in the latest quarter. In 2023, Apple held a 20.7 percent market share but in Q1 2024, the company experienced a significant 9.6 percent decline in market share.
The remaining three brands in the top five have retained their positions since Q1 2023. Xiaomi holds the third position with 40.8 million smartphones shipped, while Transsion and Oppo occupy the fourth and fifth spots with 28.5 million and 25.2 million smartphone shipments, respectively. The most notable change was Transsion’s ascent to the fourth spot from Oppo, with the company experiencing a staggering 84.9 percent year-on-year increase.
The IDC reports indicate that the smartphone market is rebounding globally. “Firstly, we continue to see growth in value and average selling prices (ASPs) as consumers opt for more expensive devices knowing they will hold onto their devices longer. Secondly, there is a shift in power among the Top 5 companies, which will likely continue as market players adjust their strategies in a post-recovery world”, said Nabila Popal, research director with IDC’s Worldwide Tracker team in a statement. “Xiaomi is coming back stronger from the large declines experienced over the past two years and Transsion is becoming a stable presence in the Top 5 with aggressive growth in international markets. In contrast, while the Top 2 players both saw negative growth in the first quarter, it seems Samsung is in a stronger position overall than they were in recent quarters”.
Other Trending News:- News
