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Robust Q1 world smartphone shipments may very well be simply the beginning of an AI-led rebound

The worldwide smartphone market began 2024 with a powerful first quarter that noticed smartphone shipments rise 10% year-over-year to hit 296.2 million models. After 10 powerful quarters, the smartphone market lastly turned the nook with Samsung on the prime. The corporate delivered 60 million smartphones led by new mid-range Galaxy A fashions and the discharge of the flagship Galaxy S24 collection. With 48.7 million iPhones shipped throughout Q1, Apple dropped again to second place due to a double-digit decline in models delivered.

Canalys Senior Analyst Sanyam Chaurasia summarized Samsung’s return to the highest by saying, “Samsung’s S24 launch displays a pivotal second in its AI and premium technique, with the potential to reshape the trade. In comparison with final yr’s S23 launch, Samsung launched the Galaxy S24 a month earlier and shipped 13.5 million models, a 35% year-over-year cargo progress vs its predecessor in Q1.”

The analyst continued by including, “The pull issue from Galaxy AI, the big scale of retail factors elevating the shopper expertise, and a greater time-to-market technique, drove the robust efficiency of the Galaxy S24. Past empowering Samsung’s premium positioning, it additionally indicators a broader shift within the smartphone trade in the direction of AI-driven innovation. Samsung will look to leverage its early momentum by crafting compelling worth propositions for customers with Galaxy AI; solidifying premium competitiveness and fostering model stickiness.”

In the course of the January by March interval, Samsung’s shipments of 60 million telephones allowed it to seize a number one 20% market share (down from final yr’s Q1 share of twenty-two%). Samsung noticed its Q1 shipments decline 1%. As we mentioned, Apple shipped 48.7 million iPhones in the course of the opening quarter of 2024, a 16% decline on an annual foundation. Because of this, Apple’s market share dropped from 21% in the course of the 2023 first quarter to 16% in the course of the first quarter this yr.

Xiaomi had a powerful quarter with world shipments up 33% to 40.7 million models. The corporate noticed its worldwide market share rise from 11% to 14%. Little-known producer Transsion continued its robust rise from nowhere and had the most effective quarter among the many prime 5 with an 86% annual acquire in shipments to twenty-eight.6 million from the 15.4 million it delivered throughout the identical quarter final yr. The producer’s market share continues to rise rising from 6% after final yr’s first quarter to 10% after Q1 of 2024.

And at quantity 5 was Oppo. The corporate noticed its Q1 2024 cellphone shipments hit 25 million models, off 6% from the 26.6 million telephones it shipped throughout Q1 2023.

Can the worldwide smartphone market proceed to get better? If customers proceed to indicate a powerful curiosity in AI and producers are good sufficient so as to add new AI options, the remainder of 2024 and even 2025 may proceed to indicate rebounding power in smartphone shipments worldwide.

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