Global smartphone shipment continues to expand at an astounding rate, with 289.4 million smartphones shipped in the first quarter of 2024 alone.
This figure indicates a 7.8 per cent increase year on year and the third consecutive quarter of growth.
This is based on data from the International Data Corporation. According to the Corporation, the smartphone market is experiencing a significant transition, fueled by high rises from Chinese manufacturers. Transsion and Xiaomi are two of the most prominent Chinese manufacturers.
While Xiaomi recorded a shipment of 40.8 million smartphones, representing a 33.8 per cent increase, Transsion experienced the most growth in the quarter, selling 28.5 million devices, marking an incredible 84.9 per cent increase.
Nabila Popal, IDC Research Director, said that the market has emerged from the instability of the previous two years stronger and altered.
He went on to forecast that value and ASPs would continue to rise as consumers choose more expensive devices with the expectation that they would keep them for longer periods.
Smartphone shipments may have increased significantly, but the two major manufacturers, Samsung and Apple, have yet to have a very successful quarter.
Apple, for example, saw a dramatic 9.6 per cent decrease in iPhone shipping, with 50.1 million phones shipped in the quarter.
Samsung maintained its market lead despite recording a flat 60.1 million smartphone shipments.
However, the company lost approximately 2% of its market shares, decreasing to 20.5% from 22.5%. OPPO also had an impressive quarter, delivering 22.5 million units and retaining a global market share of 8.7%.
Despite the excellent rise, Ryan Reith, Group Vice President of Mobility and Consumer Device Trackers at IDC Worldwide, stated that the smartphone industry is still dealing with issues from the previous two years.
He emphasized that several markets still pose macroeconomic concerns. Nonetheless, the market appears to be on its road to recovery.
“As expected, smartphone recovery continues to progress, with market optimism gradually growing among the leading brands.
While Apple managed to capture the top rank by the end of 2023, Samsung effectively reasserted its position as the main smartphone provider,” Reith disclosed in a statement.
He also stated that while the IDC expects the two companies to maintain their dominance in the high-end market, the resurgence of Huawei in China, as well as notable gains from Xiaomi, Transsion, OPPO/OnePlus, and Vivo, will likely have both Original Equipment Manufacturers (OEMs) looking for new ways to expand and diversify.
“As the recovery progresses, we are likely to see top companies gain share as the smaller brands struggle for positioning,” he added.
Nabila Popal said the process would begin with the ongoing value growth and average selling prices (ASPs) when buyers choose more expensive items, knowing they will have them for longer periods.
