Daily Management Review

Samsung regains leadership in global smartphone market in Q1


International Data Corporation (IDC) claims that South Korean corporation Samsung was the world's leading smartphone seller as of the first quarter of 2024.

Apple Inc., based in the United States, took the lead for the first time by the end of 2023.

According to a preliminary assessment by IDC, worldwide shipments of smartphones rose by 7.8% year over year to 289.4 million units in the first quarter of 2024. The market is showing signs of recovery after a two-year decline, since this quarter's gain was the third in a row.

Apple saw a 9.6% decline in sales year over year, while Samsung saw a 0.7% decline. China's Xiaomi had a threefold increase in shipments during this time, while the Transsion brand saw growth of about 85%, propelling it to the fourth rank among the world's biggest smartphone providers.

IDC researchers anticipate that Samsung and Apple will remain at the top of the market, but they also see room for brands like Huawei, Xiaomi, Transsion, OPPO/OnePlus, and Vivo to expand and diversify.

source: bloomberg.com