Samsung Overtakes Apple: Global Smartphone Market Sees Growth in Q1 2024

Global smartphone market thrives in Q1 2024! With 296.2 million units shipped, a 10% surge from last year, according to Canalys. Samsung steals the spotlight, shipping 60 million units, surpassing Apple.

Samsung has taken Apple's top rank and is dominating the top five list. In the first three months of 2024, the South Korean IT giant supplied 60 million machines, accounting for 20% of the market. With a 16% market share, Apple has only supplied 48.7 million iPhones.

According to Canalys research, the global smartphone market is expected to rise by 10% year over year in Q1 2024, with 296.2 million devices sold. Rebalanced portfolios and developing market macroeconomic stabilization were major contributors to this spike. Apple dropped to second place, while Samsung took the lead back. Xiaomi stayed in third position.

With 13.5 million Galaxy S24 handsets shipped, Samsung's launch has seen a 35% increase in shipments year over year, signaling a change in the smartphone market toward AI-driven innovation. Mass-market brands like Xiaomi and TRANSSION have shown significant performance in emerging areas, with 33% and 86% year-over-year growth respectively. The firm will use its early momentum to create attractive value propositions for users with Galaxy AI. To prepare for rising expenses, many firms are likewise increasing output and hoarding raw materials.

“In 2024, vendors will maintain a cautious stance, focusing on wallet share, inventory management, and supply chain optimization. Meanwhile, exploring avenues to commercialize the generative AI wave remains critical for all players within the device ecosystem,” said Chaurasia. “The evolution of on-device AI solutions for smartphones depends heavily on strategic alliances among brands, chipset providers, and software firms. Vendors will look for open collaboration with industry leaders to bring unique and personalized AI solutions to end users. In the long-term, vendors will look to bring these AI features to mid-range price bands to add more users to their native AI ecosystems. Additionally, ecosystem expansion via cross-device integration and strategic partnerships boosts revenue potential, highlighting the profound impact of on-device AI on user experiences and brand profitability.”

Via Canalys