IDC report reveals shifting dynamics in global smartphone landscape as Samsung takes the lead and smaller brands gain momentum.
In a significant shakeup in the smartphone industry, Samsung has dethroned Apple to emerge as the leading smartphone brand globally, according to a report by IDC. The report highlights a 7.8% year-over-year increase in global smartphone shipments, reaching a total of 289.4 million units in the first quarter of 2024.
Samsung’s Ascendancy
Samsung’s meteoric rise to the top saw the tech giant ship 60.1 million units in the first quarter of 2024, commanding a formidable 20.8% market share. Meanwhile, Apple experienced a notable decline in iPhone shipments, dropping by 10% to 50.1 million units. This decline marks a significant departure from the corresponding quarter last year when Apple shipped 55.4 million iPhones, with its market share now standing at 17.3% in Q1 2024.
Xiaomi’s Solidification
Claiming the third spot in the rankings, Xiaomi showcased its resilience with a 14.1% market share, shipping just over 40 million units in Q1 2024. Despite the dominance of Samsung and Apple, IDC foresees Xiaomi and other emerging players making strides in the market, posing a challenge to the established giants.
Shifting Dynamics and Emerging Players
Ryan Reith, group vice president with IDC’s Worldwide Mobility and Consumer Device Trackers, underscores the evolving landscape, noting the resurgence of Huawei in China and the noteworthy gains from Xiaomi, Transsion, OPPO/OnePlus, and vivo. As the recovery progresses, top companies are poised to gain market share while smaller brands strive for positioning in a highly competitive environment.
The Changing Face of the Market
Nabila Popal, research director with IDC’s Worldwide Tracker team, emphasizes the transformative nature of the smartphone market, with power dynamics shifting among major players. Popal anticipates this trend to continue as market players recalibrate their strategies in a post-recovery era. Notably, Xiaomi’s resurgence and Transsion’s international growth underscore the evolving dynamics of the global smartphone landscape.
Transsion’s Remarkable Growth
Transsion emerges as the fastest-growing brand, witnessing a remarkable 84.5% increase in shipments. The Chinese conglomerate shipped 28.5 million units, capturing a market share just under 10%. This impressive growth cements Transsion’s position as a formidable contender in the smartphone arena, signaling its intent for further expansion on the global stage.
