According to the latest data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, global smartphone shipments grew by 7.8% year over year, reaching 289.4 million units in the first quarter of 2024 (Q1‘24). This marks the third consecutive quarter of shipment growth, indicating that a recovery is underway despite ongoing macroeconomic challenges in many markets.
Ryan Reith, Group Vice President at IDC's Worldwide Mobility and Consumer Device Trackers, noted that the smartphone market is slowly recovering, with optimism growing among the top brands. While Apple held the top spot at the end of 2023, Samsung reclaimed its position as the leading smartphone provider in the first quarter of 2024.
Smartphone Market Trends
Huawei's resurgence in China and gains from other brands like Xiaomi, Transsion, OPPO/OnePlus, and vivo are expected to challenge the dominance of Apple and Samsung in the high-end market segment. Nabila Popal, Research Director at IDC's Worldwide Tracker team, highlighted two key trends in the smartphone market.
Firstly, consumers are opting for more expensive devices, leading to a growth in average selling prices (ASPs). Secondly, there is a shift in power among the top 5 companies, with Xiaomi and Transsion making significant gains while Samsung and Apple experienced negative growth in the first quarter of 2024.
This shift indicates a changing competitive landscape, potentially influenced by factors such as innovative product offerings, pricing strategies, and market expansion efforts by emerging players.
Q1’24 Smartphone Shipments, Market Share and YoY Change
|
Brand |
Units Shipped (millions) |
Market Share (%) |
Year-over-Year Change (%) |
|
Samsung |
60.1 |
20.8 |
-0.7 |
|
Apple |
50.1 |
17.3 |
-9.6 |
|
Xiaomi |
40.8 |
14.1 |
33.8 |
|
Transsion |
28.5 |
9.9 |
84.9 |
|
OPPO |
25.2 |
8.7 |
-8.5 |
|
Others |
- |
29.3 |
- |
|
Total |
289.4 |
100 |
7.8 |
In the first quarter of 2024, the global smartphone market saw Samsung leading in shipments with 60.1 million units, capturing a 20.8% market share. Despite a slight decline of -0.7% compared to the previous year, Samsung maintained its top position. Apple followed closely behind, shipping 50.1 million units, but experienced a significant drop of -9.6% year-over-year. Xiaomi secured the third position with 40.8 million units shipped, enjoying a robust year-over-year growth of 33.8%.
Transsion and OPPO held the fourth and fifth spots respectively, with Transsion experiencing remarkable growth of 84.9%, while OPPO faced a decline of -8.5%. Together, other brands represented 29.3% of the market share. Overall, the total number of smartphone shipments in the first quarter of 2024 amounted to 289.4 million units, marking a 7.8% increase compared to the previous year.
