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Samsung regains smartphone crown as global market rebounds
15 Apr 2024
Samsung reclaimed the title of the world's leading smartphone vendor in the first quarter of 2024, dethroning Apple after a quarter of strong sales, according to the International Data Corporation (IDC). Global smartphone shipments grew 7.8% year-over-year to 289.4m units in Q1, marking a third consecutive quarter of growth despite ongoing macroeconomic challenges.
Samsung sales were bolstered by the S24 series launch
This positive trend indicates the industry might be on the path to recovery. However, Samsung and Apple face a growing threat from resurgent Chinese brands.
"While IDC expects these two companies to maintain their dominance in the premium segment, the resurgence of Huawei in China, along with significant gains from Xiaomi, Transsion, OPPO/OnePlus, and Vivo, will likely force both OEMs to seek new avenues for expansion and diversification," said Ryan Reith, group vice president with IDC's worldwide mobility and consumer device trackers.
Shifting market landscape
The smartphone market emerging from the pandemic presents a changed landscape. Consumers are opting for more expensive devices and holding onto them for longer, pushing up average selling prices. This trend benefits major players while squeezing margins for smaller brands.
"Xiaomi is making a strong comeback after suffering significant declines over the past two years, while Transsion is establishing itself as a stable presence in the Top 5 with aggressive growth in international markets," noted Nabila Popal, research director with IDC's worldwide tracker team.
Top 5 Smartphone vendors (Q1 2024)
Company | Shipments (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% |
Source: IDC Quarterly Mobile Phone Tracker, April 15, 2024
