The International Data Corporation (IDC) has released preliminary data from its Worldwide Quarterly Mobile Phone Tracker indicating a year-over-year increase of 7.8% in global smartphone shipments, totaling 289.4 million units for the first quarter of 2024 (1Q24). This growth marks three consecutive quarters of rising shipments, signaling a promising recovery for the industry despite ongoing macroeconomic challenges in various markets.
“The ongoing smartphone market recovery is progressing, with growing market optimism among leading brands,” noted Ryan Reith, Group Vice President at IDC, overseeing the Worldwide Mobility and Consumer Device Trackers. “Although Apple claimed the leading position at the close of 2023, Samsung has regained its role as the premier smartphone vendor in the first quarter. IDC anticipates that both Apple and Samsung will continue to dominate the high-end market, even as Huawei’s rebound in China and significant advancements by Xiaomi, Transsion, OPPO/OnePlus, and vivo force these original equipment manufacturers (OEMs) to seek expansion and diversification opportunities. As the market recovers, the leading companies are expected to increase their market share, while smaller brands face challenges in finding their footing.”
“The smartphone market is re-emerging from the upheaval of the past two years stronger and altered,” commented Nabila Popal, Research Director at IDC’s Worldwide Tracker team. “We’re observing a rise in value and average selling prices (ASPs) as consumers are increasingly choosing pricier devices, aware that they will keep their phones for longer periods. Additionally, there’s a realignment of power among the Top 5 companies, which is expected to continue as industry players recalibrate their strategies in a post-pandemic market landscape. Xiaomi is rebounding strongly from previous declines, and Transsion is solidifying its place in the Top 5 with robust growth in global markets. Meanwhile, despite negative growth for both of the top two vendors in Q1, Samsung appears to be in a more robust position than in recent quarters.”
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