Samsung has catapulted to No. 1 spot among smartphone providers in the first quarter of 2024. The latest data released by International Data Corporation (IDC) states that while Apple Inc. managed to capture its top rank towards the end of 2023, Samsung now takes the lead.
A Reuters report stated global smartphone shipments have surged 7.8% year-on-year to 289.4 million units in the first quarter of 2024.
Apple struggled to retain sales in China, the world’s biggest smartphone market, since the debut of its latest iPhone generation in September 2023. This is weighing on its global results. The company shipped 5 million fewer iPhones than it did a year earlier, according to a Bloomberg report.
The IDC report elaborated that the industry is still struggling through macroeconomic challenges in several markets, but this is the third consecutive quarter of shipment growth. This growth is a positive indicator of a good recovery underway.
"While Apple managed to capture the top spot at the end of 2023, Samsung successfully reasserted itself as the leading smartphone provider in the first quarter. While IDC expects these two companies to maintain their hold on the high end of the market, the resurgence of Huawei in China, as well as notable gains from Xiaomi, Transsion, OPPO/OnePlus, and Vivo will likely have both OEMs looking for areas to expand and diversify," said Ryan Reith, group vice-president with IDC's Worldwide Mobility and Consumer Device Trackers.
He stated that amidst the recovery, they have witnessed a surge in the gain share of top companies, while smaller brands are struggling to make a mark in the market.
Top 5 Companies, Worldwide Smartphone Shipments, Market Share, and Year-Over-Year Growth, Q1 2024 (Preliminary results, shipments in millions of units)
| Company | 1Q24 Shipments | 1Q24 Market Share | 1Q23 Shipments | 1Q23 Market Share | Year-Over-Year Change |
|---|---|---|---|---|---|
| Samsung | 60.1 | 20.80% | 60.5 | 22.50% | -0.70% |
| Apple | 50.1 | 17.30% | 55.4 | 20.70% | -9.60% |
| Xiaomi | 40.8 | 14.10% | 30.5 | 11.40% | 33.80% |
| Transsion | 28.5 | 9.90% | 15.4 | 5.70% | 84.90% |
| OPPO | 25.2 | 8.70% | 27.6 | 10.30% | -8.50% |
| Others | 84.7 | 29.30% | 79 | 29.40% | 7.20% |
| Total | 289.4 | 100.00% | 268.5 | 100.00% | 7.80% |
Research director with IDC's Worldwide Tracker team, Nabila Popal said, "The smartphone market is emerging from the turbulence of the last two years, both stronger and changed."
He further added that they can see consistent growth in and average selling prices as consumers prefer more expensive devices and that these devices will stay longer with them. Popal stated there was a power shift among the Top 5 companies, which was expected as market players were constantly changing their strategies in a post-recovery world.
"Xiaomi is coming back strong 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," Popal said.
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