In the first quarter of 2024, the global smartphone market saw a significant increase in shipments, according to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. With a 7.8% year-over-year growth, a total of 289.4 million units were shipped, marking the third consecutive quarter of growth and indicating a strong recovery in the market.
Leading the pack in the first quarter was Samsung, overtaking Apple for the top spot as the leading smartphone provider. While Apple and Samsung are expected to continue dominating the high-end market, other companies such as Huawei, Xiaomi, Transsion, OPPO/OnePlus, and vivo are also making notable gains and looking to expand their market presence.
The smartphone market is undergoing a shift towards higher value and average selling prices as consumers opt for more expensive devices and hold onto them for longer periods. Xiaomi is making a strong comeback, while Transsion is establishing itself as a stable presence in the Top 5 with aggressive growth in international markets.
Despite experiencing negative growth in the first quarter, Samsung remains in a strong position compared to recent quarters. The top 5 companies for worldwide smartphone shipments in Q1 2024 were Samsung, Apple, Xiaomi, Transsion, and OPPO, with Samsung leading in market share.
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for technology markets globally. International Data Corporation (IDC) is a global provider of market intelligence, advisory services, and events for the technology, telecommunications, and consumer technology markets.
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