Global smartphone shipments saw a 7.8% year-over-year increase, totaling 289.4 million units in the first quarter of 2024, according to a report by IDC. This marks the third consecutive quarter of shipment growth. Samsung, after losing its top position to Apple at the end of 2023, managed to reclaim its lead in the market during 1Q24. Samsung held a 20.8% market share in the first quarter, while Apple had a 17.3% share.
The report also highlighted the significant growth achieved by Transsion in the first quarter. Transsion’s smartphone shipments surged by 84.9%, helping them capture 9.9% of the market. Ryan Reith, group vice president with IDC’s Worldwide Mobility and Consumer Device Trackers, emphasized the positive trajectory of the smartphone market, stating that market optimism is slowly building among top brands.
While Samsung and Apple are expected to maintain their dominance in the high-end smartphone market, IDC predicts that Huawei’s resurgence in China, along with notable gains from Xiaomi, Transsion, OPPO/OnePlus, and vivo, will compel these leading OEMs to seek opportunities for expansion and diversification.
Nabila Popal, research director with IDC’s Worldwide Tracker team, noted two significant trends in the smartphone market. Firstly, there is growth in value and average selling prices as consumers opt for more expensive devices and intend to hold onto them for longer. Secondly, there is a power shift among the top five companies, with Xiaomi and Transsion making strong comebacks and solidifying their positions. Despite negative growth in the first quarter, Samsung appears to be in a stronger overall position than in recent quarters.
As the smartphone market emerges from the turbulence of the past two years, it is becoming stronger and evolving. As consumers’ preferences change and market players adjust their strategies, it is likely that the top smartphone companies will continue to gain market share, while smaller brands will face challenges in finding their positioning.
The global smartphone industry has experienced a 7.8% year-over-year increase in shipments during the first quarter of 2024, reaching a total of 289.4 million units, according to a report by IDC. This growth reflects the third consecutive quarter of shipment growth, indicating a positive trend in the market. After losing its top position to Apple in 2023, Samsung managed to reclaim its lead in the market during the first quarter of 2024, holding a 20.8% market share. Apple, on the other hand, had a 17.3% share.
In addition to Samsung and Apple, the report highlighted the significant growth achieved by Transsion in the first quarter. Transsion experienced a surge in smartphone shipments, with an impressive 84.9% increase, allowing them to capture 9.9% of the market. Ryan Reith, group vice president with IDC’s Worldwide Mobility and Consumer Device Trackers, emphasized the growing optimism in the smartphone market among top brands.
Despite the dominance of Samsung and Apple in the high-end smartphone market, IDC predicts that Huawei’s resurgence in China and notable gains from Xiaomi, Transsion, OPPO/OnePlus, and vivo will drive the leading original equipment manufacturers (OEMs) to seek opportunities for expansion and diversification.
Nabila Popal, research director with IDC’s Worldwide Tracker team, identified two significant trends in the smartphone market. Firstly, there is a growth in value and average selling prices, as consumers opt for more expensive devices and intend to keep them for longer periods. Secondly, there is a power shift among the top five companies, with Xiaomi and Transsion making strong comebacks and solidifying their positions. Despite negative growth in the first quarter, Samsung appears to be in a stronger overall position than in recent quarters.
As the smartphone market continues to emerge from the turbulence of the past two years, it is becoming stronger and evolving. Consumer preferences are changing, and market players are adjusting their strategies accordingly. It is expected that the top smartphone companies will continue to gain market share, while smaller brands may face challenges in finding their positioning.
For more information on the global smartphone market and industry forecasts, you can visit the IDC website: IDC.
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