Samsung has edged out Apple to become the leading smartphone brand in the first quarter of 2024, despite a marginal decrease in its own shipments. This shift highlights the changing dynamics in a competitive industry where major players continue to vie for dominance.
A Shift in Market Dynamics
The latest data from the International Data Corporation (IDC) reveals a 0.7% drop in Samsung’s shipments, which totaled 60.1 million units in the January-March quarter. Apple, on the other hand, experienced a more substantial decline, with iPhone shipments falling 9.6% to 50.1 million units.
This downturn enabled Samsung to overtake Apple, pushing the latter to the second position in the global rankings.
In the first quarter of 2024, Apple #iPhone shipments declined by 10 percent, allowing Samsung to reclaim the top spot in the smartphone market, reveals a recent IDC report.https://t.co/ClySSmmdst
— Hindustan Times Tech (@HTTech) April 16, 2024
The market share figures tell a compelling story of competition and shifting consumer preferences. Samsung’s market share decreased from 22.5% in the first quarter of 2023 to 20.8% in the same period this year.
Apple’s share also saw a reduction, dropping from 20.7% to 17.3%. Despite these declines, the overall smartphone market grew by 7.8% year-over-year, totaling 289.4 million units shipped in the first quarter of 2024.
Growth Amidst Challenges
The smartphone industry appears to be on a recovery path, with the third consecutive quarter of shipment growth signaling a robust rebound.
“The industry is not completely out of the woods yet, given the macroeconomic challenges across various markets, but the continuous growth is a strong indicator of recovery,” commented Ryan Reith, Group Vice President at IDC.
Market analysts remain optimistic about the sector’s future. According to Counterpoint Research, global smartphone shipments are expected to see a modest 3% increase year-over-year, potentially reaching 1.2 billion units in 2024.
Competitive Landscape
The competitive pressures are not just a tussle between Samsung and Apple. Other brands like Xiaomi, Transsion, Oppo/OnePlus, and Vivo are making significant strides.
Xiaomi, for instance, saw a substantial 33.8% increase in shipments, marking a significant turnaround from past declines. Transsion also reported impressive growth, with an 84.9% increase in its shipments.
Nabila Popal, Research Director at IDC, noted, “There is a shift in power among the top five companies, which will likely continue as market players adjust their strategies in a post-recovery world.”
She highlighted the competitive nature of the market, where even the top players are not immune to negative growth, as seen in this quarter.
Samsung and Apple: Innovation for Market Dominance
The battle for market share is far from over. Samsung and Apple are expected to maintain their dominance in the high-end market segment, but they will need to innovate continually and adapt to changing consumer demands and market conditions.
