In the first quarter of 2024, the global smartphone market saw a significant boost with a 10% year-on-year growth in shipments, marking the first double-digit increase in ten quarters. According to independent analyst firm Canalys, a total of 296.2 million smartphones were shipped during this period, showing a positive trend for the industry.
Samsung emerged as the dominant player in the market, reclaiming the top spot by shipping 60 million units. The Korean tech giant’s success can be attributed to its updated A-series and premium offerings, with the recent launch of the Galaxy S24 garnering particular attention. This new flagship device has propelled Samsung’s growth, with 13.5 million units shipped in Q1, representing a 35% increase compared to its predecessor.
On the other hand, Apple slipped to second place, shipping 48.7 million units and experiencing a decline of more than 16% from the previous year. Xiaomi maintained its position in third place with 40.7 million shipments, followed by TRANSSION and OPPO in the top five.
In terms of market share, Samsung led with 20%, followed by Apple at 16%, Xiaomi at 14%, TRANSSION at 10%, and OPPO at 8%. The research suggests that the smartphone market is moving towards AI-driven innovation, with Samsung’s focus on AI technology setting a new industry standard.
Looking ahead, the market is expected to continue its growth trajectory, with AI-enabled smartphones driving the next phase of expansion. By 2027, the share of GenAI-equipped smartphone shipments is projected to reach 43% of the market, indicating a significant shift towards AI integration in mobile devices.
In conclusion, the global smartphone market is witnessing a period of transformation and innovation, with leading brands vying for dominance through cutting-edge technology and strategic partnerships. As the industry evolves, vendors are expected to focus on bringing AI features to mid-range price categories to expand their user base and enhance overall customer experience.
