The global shipment of phones dropped by 7.8 percent year over year to 289.4 million units in the first quarter of 2024 (1Q24), according to data from the International Data Corporation (IDC), Worldwide Quarterly Mobile Phone Tracker, released on April 15, 2024. This decline caused Apple to lag behind, while Samsung led the market.
“As expected, smartphone recovery continues to move forward with market optimism slowly building among the top brands,” Ryan Reith, group vice president with IDC’s Worldwide Mobility and Consumer Device Trackers, said.
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Huawei, Xiaomi, Transsion, OPPO/OnePlus, Vivo: The Rising Star
While Apple had captured the top spot at the end of 2023, Samsung successfully reasserted itself as the leading smartphone provider in the first quarter. IDC expects these two companies to maintain their hold on the high end of the market, but the resurgence of Huawei in China, along with notable gains from Xiaomi, Transsion, OPPO/OnePlus, and vivo, will likely prompt both OEMs to seek areas for expansion and diversification. With an expected recovery, IDC anticipates witnessing the top companies gaining share as smaller brands struggle for positioning, the report further added.
“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.
Popal further said, “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’s return
Xiaomi is making a strong comeback from the significant declines seen over the past two years. Transsion is establishing itself as a stable presence in the Top 5 with aggressive growth in international markets. In contrast, Popal believes, while the Top 2 players both experienced negative growth in the first quarter, it appears that Samsung is in a stronger position overall than it was in recent quarters.
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Published: 15 Apr 2024, 10:27 AM IST