What you need to know
- IDC's latest data reveals that fewer iPhones were sold last quarter, while Samsung's strategy of releasing its new Galaxy S24 series earlier proved successful.
- Samsung shipped 60.1 million units in Q1 2024, capturing a 20.8% market share, while Apple shipped 50.1 million units, representing 17.3% of the market.
- While Samsung and Apple are expected to maintain dominance, other brands like Xiaomi, Transsion, Oppo, and Vivo are gaining traction, especially outside the US.
Samsung lost the top spot to Apple in 2023, but now it is back in the driver's seat after shipping the most smartphones worldwide in the first quarter of 2024.
The South Korean electronics giant outdid Apple to reclaim the top spot as the No. 1 smartphone company worldwide, according to International Data Corporation.
IDC's early data reveals two things: not as many iPhones flew off the shelves last quarter, and Samsung's gamble of releasing its new Galaxy S24 series a bit earlier really worked out.
According to the preliminary data from IDC's Mobile Phone Tracker for Q1 2024, Samsung shipped 60.1 million units worldwide, grabbing a 20.8 percent market share. Meanwhile, Apple shipped 50.1 million units, accounting for 17.3 percent of the market. Both companies experienced a decline compared to the first quarter of 2023, with Apple's drop (-9.6 percent) being much larger than Samsung's (-0.7 percent).
While IDC says Samsung and Apple will probably remain at the top, there's a growing trend of other brands gaining traction, especially outside the United States. Brands like Xiaomi, Transsion, Oppo, and Vivo are becoming increasingly popular.
In Q1 2024, Xiaomi secured its spot with 40.8 million units shipped, while Transsion (owner of brands like TECNO, Infinix, and Itel) moved up to fourth place with 28.5 million units, surpassing OPPO, which shipped 25.2 million units.
Overall, the smartphone market is on the rise, according to IDC. There was a 7.8% increase in smartphone shipments in Q1 2024 compared to Q1 2023. In the last quarter, there were 289.4 million smartphone shipments, compared to 268.5 million in the same period of 2023. This suggests that the industry is recovering nicely after any slowdowns it might have faced earlier.
Even though IDC doesn't give us a breakdown of the best-selling specific phones, the high shipment numbers for certain brands are a strong indicator of what's popular. Unfortunately, phone makers keep their actual sales figures under wraps.
Looking into the future, it seems the smartphone market isn't slowing down anytime soon. Nabila Popal, research director with IDC's Worldwide Tracker team, pointed out that average selling prices are rising as consumers opt for pricier models.
