Heaptalk, Jakarta —The worldwide smartphone market saw an increment of 7.8% year over year, reaching 289.4 million units in Q1 2024 according to IDC Worldwide Quarterly Mobile Tracker. This is the third consecutive quarter of shipment growth, indicating the industry’s recovery is underway despite the prevailing macroeconomic challenges.
“As expected, smartphone recovery continues to move forward with market optimism slowly building among the top brands,” said Group Vice President of IDC’s Worldwide Mobility and Consumer Device Trackers Ryan Reith.
In more detail, Apple held the top spot at the end of 2023, and Samsung reclaimed its position as the leading smartphone provider in Q1. IDC expects these two companies to maintain their dominance on the high end of the market. However, the resurgence of Huawei in China, coupled with significant gains from Xiaomi, Transsion, Oppo/OnePlus, and Vivo, pushes Apple and Samsung to expand and diversify. Reith commented, “As the recovery progresses, we’re likely to see the top companies gain share as the smaller brands struggle for positioning.”
Meanwhile, Research Director at IDC’s Worldwide Tracker team, Nabila Popal, pointed out the intriguing shifts in the smartphone market. “Firstly, we continue to see growth in value and average selling prices (ASPs) as consumers opt for more expensive devices, knowing they will hold onto their devices longer. Secondly, there is a fascinating shift in power among the top 5 companies, which will likely continue as market players adjust their strategies in a post-recovery world,” Popal elaborated.
Xiaomi returns strong from the significant declines experienced over the past two years. Transsion is becoming a stable presence in the Top 5 with aggressive growth in international markets. In contrast, while the top 2 players saw negative growth in the first quarter, Samsung is in a stronger position overall than in recent quarters.
