According to the latest research from Canalys, released on April 16th, smartphone shipments globally saw an 11% year-on-year growth in the first quarter of 2024. This growth trend is primarily driven by a resurgence in consumer demand and the global macroeconomic recovery.
Samsung reclaimed the top spot with a market share of 20%, thanks to strong sales of its Galaxy AI series, particularly the S24 model. Apple followed with a 16% market share, securing the second position.
Xiaomi ranks third with a 14% market share, followed by Transsion at 10%, and OPPO rounds out the top five with an 8% share.
Compared to the same period last year, Samsung's market share in the first quarter of 2024 dropped by 2%, Apple's fell by 5%, Xiaomi's increased by 3%, Transsion's rose by 4%, and OPPO's decreased by 2%.
Canalys research analysts note that due to global inflation uncertainties, suppliers are maintaining cautious inventory management to reduce the risk of over-supply and ensure financial stability.
It is expected that in the second quarter of 2024, inventories will be slightly adjusted to absorb the aggressive shipments from the past few quarters. This will make room for new products launching later this year, aiming for more sustainable long-term growth.
