May 27, 2024
Samsung Overtakes Apple as Top Smartphone Provider in Q1 2024 [Chart]

Samsung Overtakes Apple as Top Smartphone Provider in Q1 2024 [Chart]

Posted April 15, 2024 at 3:16pm by iClarified
Global smartphone shipments increased 7.8% year over year to 289.4 million units in the first quarter of 2024, according to a new report from IDC. While challenges remain in many markets, this is the third consecutive quarter of shipment growth.

Notably, Samsung managed to retake its lead as the top smartphone provider in 1Q24, after Apple captured the top position at the end of 2023. Samsung held 20.8% of the market (down 0.7%) in the first quarter, compared to Apple's 17.3% (down 9.6%). The company that saw the biggest growth in 1Q24 was Transsion, surging 84.9% to capture 9.9% of the market.

Samsung Overtakes Apple as Top Smartphone Provider in Q1 2024 [Chart]

"As expected, smartphone recovery continues to move forward with market optimism slowly building among the top brands," said Ryan Reith, group vice president with IDC's Worldwide Mobility and Consumer Device Trackers. "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. As the recovery progresses, we're likely to see the top companies gain share as the smaller brands struggle for positioning."

"The smartphone market is emerging from the turbulence of the last two years both stronger and changed," said Nabila Popal, research director with IDC's Worldwide Tracker team. "Firstly, we continue to see growth in value and average selling prices (ASPs) as consumers opt for more expensive devices knowing they will hold onto their devices longer. Secondly, there is a shift in power among the Top 5 companies, which will likely continue as market players adjust 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."

More details in the full report linked below...

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Samsung Overtakes Apple as Top Smartphone Provider in Q1 2024 [Chart]
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