Smartphone sales in the first quarter (Q1) of 2024 showed a positive increase. Recently, there has been research indicating positive growth in mobile phone sales in the first quarter of this year.
One market research company, Counterpoint Research, showed that the global smartphone market recorded a 6 percent year-on-year (YoY) growth in the first quarter of 2024.
According to Counterpoint, as quoted from Gizmochina on Wednesday (8/5/2024), the estimated revenue from smartphone sales in Q1 2024 was the highest, with smartphone shipments reaching 296.9 million units.
Every four months, Counterpoint Market Monitor provides the latest analysis on the global smartphone market. From the research conducted, the growth in smartphone shipments up to 6 percent is attributed to strong performance in key regions such as Europe, Latin America, Africa, and the Middle East.
The region with the largest growth was Europe, particularly Central and Eastern Europe. Overall consumer demand has gradually increased, and smartphone inventory has remained stable across all markets.
Additionally, data from Counterpoint shows that Samsung has overtaken Apple, which dominated last year. Samsung surpassed Apple with total shipments reaching 20 percent. Meanwhile, iPhone shipments declined by 13 percent YoY mainly due to high inventory accumulation in Q4 2023.
Meanwhile, the performance of other phone brands varies depending on the region. For example, the Transsion Group (Tecno, Itel, and Infinix) has strong performance in Eastern Europe, India, the Asia Pacific, and the Middle East. Whereas Oppo reported declines in some of these regions.
On the other hand, Xiaomi’s growth is evident in almost all of its major markets. It is anticipated that this positive trend will continue into the second quarter of 2024.
Samsung Is Soaring And Hard To Stop
There are several factors contributing to the decline in iPhone sales in the first quarter of 2024. According to IDC, This decline is largely due to a significant decrease in sales in China.
There are several factors influencing the decline in iPhone sales in China. From high nationalism among citizens, economic barriers, to increasing competition from domestic products.
The decrease in sales is also likely due to iPhone users who were previously loyal now becoming more interested in local Android smartphone products. The significant decline in Apple’s market share in China marks the increasing influence of domestic brands such as Huawei, Xiaomi, and Oppo.
Nationalist sentiments coupled with a desire to support local companies influence Chinese consumer decisions to purchase phones.
This trend is also supported by ongoing geopolitical tensions between the US and China, which could have further implications on global market dynamics. On the other hand, Samsung’s phone sales are strengthening, even surpassing Apple’s previous number one position.
According to IDC analysts, the integration of AI-based features in the Galaxy smartphone lineup is one of the factors contributing to Samsung’s success in achieving the top position. This year’s smartphone sales growth is largely driven by mid-range to flagship phones, while sales of affordable phones are declining.
This indicates that consumers prioritize more functional features over affordable prices. Not only that, but it also reflects changes in consumer behavior, where users choose to purchase premium devices intended for longer-term use.
READ:
- Snapdragon X Elite Outperforms Flagship Intel and AMD!
- Refusing to Die, Seagate Prepares Latest Hard Drive Technology
- AMD FSR 3.1 Introduced, Will Have Advanced Features
Want to get information about the best gaming PC? Don’t miss out on staying updated at Technobrads.com.
More information about Samsung
