Samsung Overtakes Apple in Q1 2024 Mobile Phone Shipments with 20.8% Market Share
Samsung took the lead over its long-standing rival, Apple, in the first quarter of 2024. According to Stocklytics.com, Samsung’s market share reached 20.8%, surpassing Apple’s share and claiming the top spot in global mobile phone shipments.
The site’s financial analyst, Edith Reads, comments:
The introduction of the Galaxy Series 24, featuring an integrated AI system, has played a pivotal role in propelling Samsung to the forefront. This tech-driven strategy has not only elevated user experience but has also significantly fueled Samsung’s expansion.
Samsung Overtakes Apple
Samsung and Apple have been locked in a competitive brawl within the smartphone industry for the last decade, highlighting the companies’ feats in dominating the industry. Both companies, striving for supremacy, have persistently released new products into the market almost annually, which is visible even with the Q1 2024 results.
During Q1 2024, Samsung primarily attributed its substantial lead to the successful launch of the Galaxy Series 24 on January 31, which introduced new Galaxy AI features like live translation and transcript assist. With over 60 million shipments, Samsung outpaced Apple’s 50.1 million iPhones during this period. Additionally, Apple lagged significantly behind its Q1 2023 performance, where it sold over 55.4 million units.
However, Apple did have a significant lead over Samsung in the previous quarter after a staggering rise in sales in December. With over 80.5 million units sold in the last quarter, Apple overtook Samsung as the top smartphone manufacturer with a wholesome 232 million units, making the total yearly sales.
Apple’s 2023 sales results hint that Q1 ’24 results may be just a short step back for the tech giant, especially with the iPhone 16 set to be released this year, also loaded with a new AI system.
Next to Apple was Xiaomi, which earned third place with a solid market share of 14.1% in Q1 24. Trudging behind were Transsion with 9.9% and OPPO with 8.7%, kicking Huawei out of the top five vendors.
Global Smartphone Market Share From 4th Quarter 2009 to 1st Quarter 2024, by Vendor
Global Smartphone Sales
The global smartphone shipments increased by 7.8% to 289.4 million units during January-March. While the top 5 vendors are the major contributors to these sales, other smartphone brands control a significant market share close to 30%.
Later this year, analysts predict a full-blown recovery of the smartphone industry, with Samsung and Apple expected to maintain their supremacy while Huawei makes a comeback. The Shenzhen-based conglomerate is already subduing Apple’s dominance in China, with 70% year-on-year growth in the first quarter, while Apple’s sales sank by more than 19%.
Stocklytics
Graphics: Adobe Stock, OlekAdobe
