The worldwide smartphone market has shown signs of recovery in the first quarter of 2024, with global shipments increasing by 7.8% year over year to reach 289.4 million units, according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker. Samsung has reclaimed the top position as the leading smartphone provider, shipping 60.1 million units and capturing a market share of 20.8%. This marks a significant milestone for Samsung, as it had briefly lost its lead to Apple in 2023.
Apple, on the other hand, experienced a decline in iPhone shipments during the same period. According to IDC's data, Apple shipped 50.1 million iPhones in Q1 2024, representing a year-over-year decrease of 9.6%. This drop in iPhone shipments is the steepest for Apple since Covid lockdowns disrupted supply chains in 2022.
Meanwhile, Xiaomi has emerged as a strong competitor in the global smartphone market, with shipments of 40.8 million units and a market share of 14.1%. This represents year-over-year growth of 33.8% for Xiaomi.
The IDC report highlights the strengthening smartphone market, attributing the growth to increasing values and average selling prices (ASPs) as consumers opt for more expensive devices with longer lifespans. Additionally, there is a shift in power among the top five companies, with Xiaomi making a strong comeback from significant declines experienced over the past two years and Transsion becoming a stable presence in the top five with aggressive growth in international markets.
It is important to note that while Samsung has reclaimed its position as the leading smartphone provider, both Samsung and Apple experienced decreases in shipments compared to Q1 2023. However, Samsung's decrease was less significant than Apple's (-0.7% vs -9.6%, respectively). This suggests that Samsung may be in a stronger position overall compared to recent quarters.
