TechInsights report: Global smartphone shipments rebound, market structure changes

News on May 7 showed that according to the latest report released by market research organization TechInsights, the global smartphone market showed a positive growth trend in the first quarter of 2024, with shipments rebounding 10% year-on-year, reaching a total of 295 million units. . This data once again proves the recovery momentum of the global smartphone market, and major manufacturers are also actively adjusting their strategies to respond to market changes.

In the global smartphone market, Samsung still maintains its leading position, with shipments of approximately 60 million units and a market share of 20%. Although shipments fell slightly by 1% in the same period last year, Samsung's strong performance in regions such as North America, Central and Eastern Europe, and Middle East Africa successfully made up for the fluctuations in Western Europe and Asia-Pacific. Among them, the hot sales of Samsung's S24 series of smartphones, especially the Ultra models, have been enthusiastically sought after by the market, bringing significant growth momentum to Samsung.

As another giant in the global smartphone market, Apple’s natural shipments fell 11% year-on-year to 49.2 million units, and its market share also dropped to 17% from 20% a year ago. However, its sales in India, Latin America, Africa and Southeast Asia still maintain strong market performance. However, the Chinese market is a challenge for Apple. iPhone shipments fell by 19% year-on-year, showing Apple's competitive pressure in the Chinese market.

Xiaomi maintained its third position in the global smartphone market, with shipments increasing 34% year-on-year to 40.8 million units, and its market share increasing to 14%. According to the editor's understanding, Xiaomi's strong growth in India, Southeast Asia and other regions has effectively balanced the fluctuations in the Western European market. Xiaomi's leading position in the Indian market has been further consolidated, with market share increasing by 19%, demonstrating Xiaomi's competitiveness and market influence in the global market.

Transsion’s brands (including Tecno, Infinix and itel) relied on their deep roots in Africa, the Middle East and other regions, and their shipments increased by 88% year-on-year to 28.5 million units, with a market share of nearly 10%. Transsion has successfully achieved rapid growth in market share in Africa, the Middle East and other regions with its unique market positioning and product strategies. OPPO (OnePlus) shipments fell 10% year-on-year to 24.8 million units, ranking fifth and facing fierce market competition.

In addition, vivo’s shipment ranking in sixth place dropped by 1%. Honor continued its impressive growth momentum, with shipments increasing 34% year-on-year to 17 million units, and its market share increasing by 6%. Although Huawei still ranks ninth, its strength in the Chinese market is eye-catching. Its shipments increased by 111% year-on-year and its market share was close to 17%, ranking third in the local market. realme remains in the top ten, with a market share of nearly 4% in the quarter and achieving an annual growth rate of 17%.

In 2024, the global smartphone market will show signs of recovery, and major manufacturers are also actively adjusting their strategies to adapt to market changes. With the popularization of 5G technology and consumers' increasing demand for smartphone performance and functions, the global smartphone market will continue to maintain growth momentum in the future.

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