Global smartphone shipments rose 7.8% year-on-year to 289.4 million units in the first quarter of 2024 (1Q24), according to the IDC Worldwide Quarterly Mobile Phone Tracker.

Despite continued economic challenges in several markets, this is the third consecutive quarter of shipment growth, signaling a solid recovery.

The top 5 companies of the first quarter of 2024
  • Samsung: Leading the pack with 60.1 million units shipped, with a market share of 20.8%. Although there is a slight decrease in shipments compared to the first quarter of 2023, Samsung has gained market share.
  • Apple: Taking second place, Apple shipped 50.1 million units, achieving a market share of 17.3%. However, there is a decline in shipments by 9.6% compared to the same quarter last year.
  • Xiaomi: Taking third place, Xiaomi shipped 40.8 million units, claiming a 14.1% market share. Impressively, this reflects a substantial 33.8% increase in shipments from the first quarter of 2023.

  • Transsion: Taking fourth place, Transsion shipped 28.5 million units, capturing a 9.9% market share. In particular, there is a significant increase in shipments by 84.9% from the first quarter of 2023.
  • OPPO: Holding the fifth position, OPPO shipped 25.2 million units, with a market share of 8.7%. However, there is an 8.5% decline in shipments from the first quarter of 2023.
  • Others: Collectively shipped 84.7 million units, accounting for 29.3% market share in Q1 2024.
Market recovery and forecasting

Ryan Reith, group vice president of IDC, highlights the ongoing smartphone recovery, especially among leading brands such as Samsung, which regained the top spot in the first quarter of 2024.

See also  Apple introduces the new iPad Pro with 11″/13″ Ultra Retina XDR display, M4 chip; The India price starts at Rs. 99900

Although Apple and Samsung are poised to dominate the high-end market, the resurgence of HUAWEI in China and the significant progress of Xiaomi, Transsion, OPPO/OnePlus and vivo may prompt them to seek new avenues of growth.

Reith predicts that as the recovery progresses, major players will strengthen their positions, while smaller brands may face challenges establishing themselves in the market.

Key trends and information

Nabila Popal, research director of IDC's Worldwide Tracker team, emphasizes two important trends: rising device value and average selling prices (ASPs), driven by consumer preference for longer-lasting premium devices and a shifting power dynamic between the top 5. companies

This evolution is expected to continue as market players adapt their strategies in a post-recovery landscape. Popal emphasizes the persistence of this evolution as market players navigate the challenges and opportunities of a recovering market.

Commenting on the market dynamics, Nabila Popal, research director of IDC's Worldwide Tracker team, commented:

The smartphone market has weathered the challenges of the past two years, emerging stronger and transformed. Xiaomi is recovering strongly from the significant declines seen earlier and Transsion is consolidating its position in the Top 5 with strong expansion in global markets. However, despite experiencing negative growth in the first quarter, Samsung appears to be in a more favorable position compared to recent quarters, while the two major players faced similar challenges.

Source

For the Latest Jobs And Information Visit: Mksjobs.Com

Aslo Read: wpstuffy.com

Mobile Updates: Queenmobile.tech

Daily Update: Update24.live