The global smartphone industry is experiencing the ongoing effects of the COVID-19 pandemic and economic uncertainties in key markets. These factors have led to fluctuations in smartphone demand worldwide. Despite this challenging landscape, the International Data Corporation (IDC) reports a 7.8% year-on-year increase in global smartphone shipments, totaling 289.4 million units in Q1 2024.
The battle for market leadership between Apple and Samsung remains fierce. Samsung regained its top position in the global smartphone market in Q1 2024 with a 20.8% market share. Although slightly lower than the previous year, this figure marks a significant increase from the 16.3% share recorded in Q4 2023. Samsung shipped 60.1 million units during the first quarter, experiencing a 0.7% decline compared to the previous year.
In contrast, Apple lost its leading position to Samsung in Q1 2024 due to strong competition from Huawei in China and other Android original equipment manufacturers (OEMs). Apple shipped approximately 50.1 million units, encountering a notable 9.6% year-on-year decline. As a result, Apple’s market share dropped from 20.7% to 17.3% within a year.
Mi, a Chinese OEM, emerged as the standout success story of Q1 2024 in the global smartphone market. After a challenging period, Mi experienced a remarkable 33.8% year-on-year growth in smartphone shipments, totaling 40.8 million units worldwide. Their market share also rose from 11.4% in Q1 2023 to 14.1% in Q1 2024.
To revitalize smartphone demand in India, where they hold an 18% market share, Mi shifted its focus towards strengthening sales through retail outlets alongside their existing e-commerce strategy. This proactive approach contributed to the company’s increased year-on-year growth in shipments and market share globally.
Transsion, viewed as a potential threat to Mi, proved to be one of the fastest-growing OEMs in the global smartphone market. They achieved an exceptional 84.9% year-on-year growth in smartphone shipments, totaling 28.5 million units in Q1 2024. In just one year, Transsion’s market share increased from 5.7% to 9.9%, demonstrating strong demand for their devices and their expanding presence in the market.
Furthermore, Oppo secured an 8.7% market share, making it the fifth-largest smartphone company globally in Q1 2024. However, the Chinese OEM faced competition from other domestic players such as Transsion, Vivo, and Mi. Oppo’s smartphone shipments experienced an 8.5% year-on-year decline during this period, totaling 25.2 million units worldwide.
According to Nabila Popal, a research director at IDC, the smartphone market is witnessing a trend of rising value and average selling prices (ASPs). This shift is driven by changing consumer preferences for higher-priced devices as they anticipate longer device retention periods.
In conclusion, the global smartphone market is brimming with competition, as the top five OEMs strive to attract more customers. These companies continuously introduce high-tech smartphones with features like 5G capabilities, flip and foldable designs, and other exciting specifications. The demand for premium smartphones, especially in India, has surged over the years due to enticing discounts and offers from banks and e-commerce platforms. With Transsion’s rapid growth posing a challenge, it remains intriguing to see how Mi will safeguard its position as the third-largest smartphone brand worldwide.
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The global smartphone industry is a highly competitive market that has been affected by the COVID-19 pandemic and economic uncertainties. Despite these challenges, the International Data Corporation (IDC) reported a 7.8% year-on-year increase in global smartphone shipments in Q1 2024, reaching a total of 289.4 million units.
Apple and Samsung continue to battle for market leadership. In Q1 2024, Samsung regained its top position with a 20.8% market share, shipping 60.1 million units. Apple, on the other hand, experienced a decline in market share, dropping from 20.7% to 17.3% and shipping approximately 50.1 million units.
One standout success story in the global smartphone market is Mi, a Chinese OEM. Mi experienced a remarkable 33.8% year-on-year growth in shipments, totaling 40.8 million units. Their market share also increased from 11.4% in Q1 2023 to 14.1% in Q1 2024. Mi’s proactive approach in strengthening sales through retail outlets and e-commerce strategies, particularly in India where they hold an 18% market share, contributed to their success.
Another OEM to watch out for is Transsion, which achieved an exceptional 84.9% year-on-year growth in smartphone shipments, increasing their market share from 5.7% to 9.9% in just one year. Transsion is viewed as a potential threat to Mi and is becoming an increasingly prominent player in the global smartphone market.
Oppo, with an 8.7% market share, secured the fifth position in the global smartphone market in Q1 2024. However, they faced competition from other domestic players such as Transsion, Vivo, and Mi. Oppo experienced an 8.5% year-on-year decline in smartphone shipments, totaling 25.2 million units.
The smartphone market is witnessing a trend of rising value and average selling prices (ASPs). Consumers are increasingly opting for higher-priced devices as they anticipate longer device retention periods. This shift has led to higher ASPs in the market, according to Nabila Popal, a research director at IDC.
In conclusion, the global smartphone industry is highly competitive, with companies constantly introducing new high-tech smartphones to attract customers. The demand for premium smartphones, especially in India, has seen significant growth. As the market continues to evolve, it will be interesting to see how these top OEMs navigate the changing landscape and maintain their positions in the industry.
For more information on the global smartphone industry, you can visit the International Data Corporation’s website: IDC.
The source of the article is from the blog lanoticiadigital.com.ar