Apple, maker of the iPhone, has lost its position as the world’s leading smartphone manufacturer. This is according to data from the International Data Corporation (IDC) for the first quarter of 2024. This change highlights the intense competition and dynamic nature of the global smartphone market. According to the data, Samsung has emerged on top with a market share of 20.8%, which apparently is being driven by robust sales of its Galaxy S24 series.
Samsung’s decision to focus on integrating advanced AI features into its Galaxy S24 series has arguably paid off, with significant sales growth reported in key markets like the US, UK, Germany, and France. In contrast, Apple experienced a decline in its market share to 17.3% (a -9.6% YoY change), with iPhone shipments falling to 50.1 million units from 55.4 million in the same period last year. This marked Apple’s most substantial drop in sales since the COVID-19 lockdown disruptions in 2022.
The decline in Apple’s smartphone shipments can be largely attributed to weakening demand in China, where local competitors like Xiaomi and Huawei continue to grow stronger. Government restrictions on the use of foreign devices in Chinese workplaces have further compounded Apple’s challenges in the region. Despite these hurdles, Apple maintains a strong presence in the high-end market segment and continues to lead in terms of overall market valuation, thanks to its diverse product ecosystem and strong brand loyalty.
Meanwhile, Xiaomi has made a strong comeback, securing the third spot with a 14.1% market share. The Chinese manufacturer’s success is buoyed by the popularity of its Xiaomi 14 series in both Chinese and European markets, reflecting a 33.8% growth in its sales. Xiaomi’s resurgence is a testament to its effective strategy adjustment and product innovation after experiencing significant market share losses in the past two years.
But those are rookie numbers when you look at Transsion. Currently the biggest seller of smartphones in Africa, Transsion devices including TECNO, itel and Infinix, witnessed a 84.9% jump in marketshare globally. The company moved from less than 6% market share globally, to close to 10% in Q1 2024. This surge is a clear indication of Transsion’s expanding influence and its effective market penetration strategies.
OPPO continues to hold a significant position in the smartphone market. The brand has been consistently recognised for its innovation and ability to maintain a competitive edge in a crowded market.
Apple, Samsung, Xiaomi, Transsion & OPPO Q1 Market Share 2024:
| Company | Q1 2024 Market Share | Q1 2023 Market Share | YoY Change | |||
| 1. | Samsung | 20.8% | 22.5% | -0.7% | ||
| 2. | Apple | 17.3% | 20.7% | -9.6% | ||
| 3. | Xiaomi | 14.1% | 11.4% | 33.8% | ||
| 4. | Transsion | 9.9% | 5.7% | 84.9% | ||
| 5. | OPPO | 8.7% | 10.3% | -8.5% | ||
| 6. | Others | 29.3% | 29.4% | 7.2% | ||
| Total | 100.0% | 100.0% | 7.8% | |||
| Source: IDC Quarterly Mobile Phone Tracker, April 15, 2024 NOTE: Data are preliminary and subject to change. | ||||||
The global smartphone market itself has shown signs of recovery from the post-pandemic slowdown, with an overall increase of 7.8% in shipments, totaling 289.4 million units in the first quarter of 2024. This recovery is indicative of the industry’s resilience and the growing consumer demand for more advanced and diverse smartphone options.
As the market dynamics continue to evolve, Samsung’s current lead over Apple could change, especially with the upcoming Worldwide Developers Conference (WWDC) in June. At this event, Apple is expected to unveil new AI capabilities and software updates, which could help regain its competitive edge and appeal to tech-savvy consumers.
