Smartphone shipments grew 10% in Q1 2024, US market declined

The worldwide smartphone market registered a double-digit cargo progress for the primary time in virtually three years, Canalys experiences. The analysis agency estimates {that a} whole of 296.2 million smartphones were shipped globally in Q1 2024, up 10% year-over-year (YoY) from Q1 2023. That is the most important YoY progress since an 11% soar in Q2 2021. The highest two distributors—Samsung and Apple—suffered declines, although.

The smartphone market noticed double-digit cargo progress in Q1 2024

The smartphone trade didn’t get pleasure from nice success in 2022 and 2023. The market confirmed indicators of restoration in the direction of the tip of final yr and, as anticipated, 2024 started with a bang. A number of analysis corporations have already revealed their estimates and all of them have hinted at big shipment growth. Canalys is saying the identical, estimating 10% progress to mark the primary double-digit progress after ten tough quarters.

Based on Canalys, this surge was “primarily fueled by distributors introducing refreshed portfolios and macroeconomic stabilization in rising market economies.” Samsung remained on the prime with 60.0 million shipments and a 20% market share. The corporate noticed sturdy demand for the Galaxy S24 flagships, promoting 13.5 million models in simply over two months. Its A collection telephones additionally did effectively within the mid-range phase.

Nonetheless, Samsung didn’t profit a lot from the worldwide cargo progress. The truth is, its smartphone shipments declined 1% YoY in Q1 2024. Apple on the second spot had an excellent worse begin to the yr. Its shipments dropped 16% to 48.7 million units. This implies the corporate solely accounted for 16% of all gross sales this previous quarter, down from 21% in the identical interval final yr when it shipped 58 million iPhones globally.

Xiaomi and Transsion, in the meantime, had an altogether totally different first quarter of 2024. The 2 corporations (the latter is the maker of Tecno, Itel, and Infinix telephones) registered a 33% and 86% cargo progress, respectively. Transsion leapfrogged Oppo into the fourth spot. Oppo dropped to fifth after a 6% decline in shipments. The mixed market share of the remaining corporations (Vivo, Google, Motorola, Nokia, and others) remained virtually flat at 31%.

North American smartphone market declined this previous quarter

The Canalys report says smartphone shipments declined 6% YoY in Q1 2024 in North America. That is maybe why Samsung and Apple noticed a cargo decline. These two corporations seize the vast majority of the market within the area. Shipments had been up all through the remainder of the world. The expansion fee was greater in rising markets equivalent to Africa, the Center East, Latin America, and Asia Pacific excluding China.

The analysis agency expects to maneuver ahead cautiously this yr. “In 2024, distributors will preserve a cautious stance, specializing in pockets share, stock administration, and provide chain optimization. In the meantime, exploring avenues to commercialize the generative AI wave stays vital for all gamers inside the system ecosystem,” mentioned Sanyam Chaurasia, a senior analyst at Canalys. Chaurasia sees corporations bringing AI options to inexpensive units so as to add extra worth to their merchandise.