Global Smartphone Shipments Down 7.8% In Q1 2024, Despite Market Optimism

Global smartphone shipments dipped 7.8 per cent year-over-year in the first quarter of 2024, according to data released today by the International Data Corporation (IDC). This decline comes despite cautious optimism expressed by major brands about a market recovery.

The report, IDC's worldwide quarterly mobile phone tracker, showed total shipments reaching 289.4 million units in Q1 2024. This decrease pushed Apple, which briefly held the top spot in late 2023, back behind Samsung, the long-time market leader.

"The smartphone market is recovering, albeit slowly," said Ryan Reith, Group Vice President, IDC's worldwide mobility and consumer device trackers. "However, some brands are positioned to benefit more than others."

While both Samsung and Apple experienced declines, analysts suggest Samsung is in a stronger overall position. The report highlights the rise of Chinese manufacturers, with Huawei regaining ground in its domestic market and Xiaomi making a significant comeback after recent struggles. Additionally, Transsion, OPPO, OnePlus and Vivo all showed notable gains.

"The market is emerging from a period of turbulence, both stronger and changed," said Nabila Popal, Research Director, IDC's worldwide tracker team. Popal pointed to two key trends: a rise in average selling prices as consumers opt for premium devices they plan to keep longer and a potential shift in power dynamics among the top five brands.

With a market recovery on the horizon, IDC anticipates further consolidation as smaller players struggle to compete. The success of Chinese brands suggests a need for both Samsung and Apple to explore areas for expansion and diversification to maintain their market share.