According to a report by Canalys, a market research agency, in the first quarter of 2024, the global smartphone market increased by 10% year-on-year to 296.2 million units. The market performance far exceeded expectations, marking the first double-digit growth in the smartphone market after a decade of downturn.
Samsung has regained its leading position with updates to its A-series and earlier high-end offerings. With shipments reaching 60 million units, it led the market. However, Apple faced challenges in its core market, with double-digit declines in shipments to 48.7 million units, placing it in second place.
Xiaomi maintained its third place, with shipments reaching 40.7 million units and a market share of 14%. Transsion and OPPO are in the top five, with shipments of 28.6 million units and 25 million units, respectively, with market shares of 10% and 8%, respectively.
Sanyam Chaurasia, Senior Analyst at Canalys, provides an in-depth analysis of this phenomenon. "The launch of Samsung's S24 marks a pivotal moment in its AI and premium strategy that has the potential to reshape the industry," he noted. Compared to the S23 released last year, Samsung released the Galaxy S24 a month earlier, and its shipments reached 13.5 million units, a year-on-year increase of 35%. This is driven by Galaxy AI, an enhanced customer experience for large-scale retail stores, and an optimized time-to-market strategy. ”
In addition, the Canalys report also shows that in the global smartphone market, other brands have also grown to varying degrees. This shows that despite the fierce competition in the market, there are still brands that are able to gain market share through innovation and quality products. In the future, the global smartphone market is expected to continue its growth momentum as more brands join the ranks of AI-driven innovation.