Worldwide smartphone shipments expand 10% YoY, Samsung regains global spot

By Nuzla Rizkia

The worldwide smartphone market has experienced a 10 per cent Year-on-Year (YoY) growth, reaching 296.2 million shipments in the first quarter (1Q24), according to the consultancy firm Canalys.
 
Research by the firm says that the global market has “performed better than expected”, reaching a “double-digit growth after ten difficult quarters”. 

The surge in demand for smartphones has been primarily fueled by ‘vendors introducing refreshed portfolios and macroeconomic stabilization in emerging market economies’ the company said. 

“Mass-market brands are riding the wave of emerging markets rebounding, while cautiously stocking components,” Canalys Analyst Runar Bjørhovde said in a statement. 

According to the research figures, South Korea’s Samsung has regained the lead spot surpassing Apple with a 20 per cent share of shipments, accounting for 60 million units.   

This success is attributed to the strong sales of its Galaxy S24 series, early premium offerings and the updates to its A series. 
Furthermore, Samsungs attempt for a broader shift in the smartphone industry towards AI-driven innovation solidifies its premium competitiveness and brand stickiness, the report stated.

Meanwhile, America’s Apple has slipped to the second spot with a 16 percent market share, amounting to 48.7 million shipments. The tech giant experienced a double-digit decline amid headwinds in its core markets, the research said. 

China’s Xiaomi has maintained the third global spot with a 14% market share, amounting to 40.7 million shipments in 1Q24. 

The top five smartphone brands have been further rounded out by TRANSSION and OPPO, securing 10 percent (28.6 million shipments) and 8 percent (25.0 million units) market share respectively.