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Wednesday, May 22, 2024

Samsung beats iPhone in 1Q24 as Apple’s shipments drop: IDC

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In Short:

Samsung surpassed Apple as the top smartphone maker in Q1 2024, with 60.1 million units shipped. Apple’s iPhone shipments fell by 9.6%, placing them in second. Overall, global smartphone shipments increased by 7.8% to 289.4 million units. While Samsung and Apple continue to dominate the high-end market, Huawei’s resurgence in China and the growth of other brands are reshaping the industry landscape. Popal from IDC sees a shift in power among the top 5 companies.

Apple slipped to the second position in the global smartphone market in Q1 2024 due to a 9.6% year-over-year decline in iPhone shipments, according to preliminary data from the International Data Corporation (IDC). This enabled Samsung to claim the top spot, shipping 60.1 million units compared to Apple’s 50.1 million iPhones during the same period.

Market Share Changes

The volume share of Samsung decreased from 22.5% in Q1 2023 to 20.8% in Q1 2024, while Apple saw its share drop from 20.7% to 17.3% in the same timeframe.

Overall Market Trends

Global smartphone shipments grew by 7.8% year-over-year in Q1 2024 to reach 289.4 million units. Market research also predicts a 3% year-over-year increase in global smartphone shipments for the full year of 2024.

Industry Recovery

Despite ongoing macroeconomic challenges, the smartphone industry is showing signs of recovery. According to IDC, the third consecutive quarter of shipment growth indicates a positive trend towards recovery.

Commenting on the market dynamics, Ryan Reith, Group Vice President at IDC, highlighted the shift in leadership with Samsung reclaiming the top spot from Apple in the first quarter of 2024.

Future Outlook

IDC anticipates that Samsung and Apple will continue to dominate the high-end market segment but will face challenges from competitors like Huawei, Xiaomi, Transsion, Oppo/OnePlus, and Vivo. The industry is expected to witness changes in market share dynamics as recovery progresses.

As the market stabilizes, major players are likely to gain market share, while smaller brands may struggle to compete. The industry is evolving and adapting to post-recovery changes.

Evolving Market Dynamics

Market analysis shows a shift in consumer preferences towards higher-priced devices, leading to an increase in average selling prices. Companies like Xiaomi and Transsion are making strong comebacks, while established players like Samsung and Apple are repositioning themselves in the changing market landscape.

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