In the first quarter of the year, the global smartphone market showed signs of recovery, with shipments increasing by 6% year-on-year, reaching a total of 296.9 million units. Samsung has taken the top spot in the market, overtaking Apple, according to data released by Counterpoint Research. Samsung captured 20% of the shipment market share, up from 17% in the previous quarter, while Apple saw its share fall to 17%, with shipments declining 13% year over year. The market growth was mainly attributed to robust performance in Europe, the Middle East and Africa, the Caribbean and Latin America. Prachir Singh, senior analyst at Counterpoint, highlighted that the MEA region was the most dynamic, thanks to strong shipments from brands such as Tecno, Xiaomi and Honor. He also noted that shipments to China were boosted by solid sales during the Lunar New Year and Huawei’s return to the market.
Singh explained that Europe, particularly Central and Eastern Europe, saw the most significant growth compared to a difficult first quarter of 2023, while North American and Japanese markets showed declines. Despite the drop in shipments, Apple led the smartphone market in terms of revenue, holding a 43% share, although its revenue fell 11% from the previous year. On the other hand, Samsung’s revenue in the smartphone business grew by 2%. Samsung’s success was driven by a solid performance of the Galaxy S24 series and Galaxy-A series. Meanwhile, smartphone shipments in the first quarter rose 7.8% to 289.4 million units, reporting the third straight quarter of consecutive growth, analyst firm IDC reported.
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