Counterpoint Research has recently released its study of the global smartphone market for the first quarter of 2024. According to the report, Samsung took the top spot in terms of shipments last quarter.
Samsung Tops Q1 2024 Global Smartphone Market – Counterpoint Research
In its last report, Apple topped the global smartphone market in 2023. Now, the latest report revealed that Samsung has toppled its Cupertino-based competitor with the South Korean tech giant taking the top spot in terms of global shipments.
The South Korean company held a strong 20% market share in Q1 2024 with Apple’s shipment declining to 17% or down 13% Year-on-Year.
Counterpoint Research attributed the climb back to the top of Samsung to its early refresh of its Galaxy A-series and the strong performance of the Galaxy S24 series which introduced Galaxy AI features.
Xiaomi held strong with a 14% shipment market share and was said to have the fastest revenue growth “due to strong performance in its key markets”.
OPPO and vivo round out the five in global market share with 8% and 7% shares, respectively. The agency revealed that vivo posted was strong in emerging markets in Asia Pacific and India, while OPPO experienced a shipment decline due to tough competition in markets like China
The report also showed:
- Huawei made huge gains in China
- HONOR gained in CALA (Caribbean and Latin America) and MEA (Middle East and Africa)
- Transsion (TECNO Mobile, itel, and Infinix) performed strongly in APAC (Asia Pacific region), Eastern Europe, and MEA
- Global smartphone shipments increased 6% Year-over-Year in Q1 2024 thanks to strong performance in Europe, MEA, and CALA
“Growth is expected to be slow but steady in the near term. However, revenues are expected to grow faster as the ongoing premiumization trend is likely to persist, especially with the rise of newer form factors and capabilities such as foldables and GenAI.”
Tarun Pathak, Counterpoint Research Research Director
You can read the full report here.
Ram found his love and appreciation for writing in 2015 having started in the gaming and esports sphere for GG Network. He would then transition to focus more on the world of tech which has also began his journey into learning more about this world. That said though, he still has the mentality of "as long as it works" for his personal gadgets.
