In the first quarter of 2024, Samsung Electronics has reasserted its dominance in the global smartphone market, regaining the top position in shipments. According to Counterpoint Research, global smartphone shipments increased by 6% year-on-year, reaching 296.9 million units.
Samsung accounted for 20% of total shipments, largely driven by the success of its Galaxy S24 series, the company’s first artificial intelligence (AI) smartphone. This achievement marks Samsung’s return to the top spot after a single quarter.
Following Samsung, Apple secured 17% of the market, while Chinese manufacturer Xiaomi captured 14% of the shipments. The overall growth in the smartphone market also led to a 7% increase in global revenues, setting a new record for the highest revenue recorded in a first quarter.
Samsung’s revenue saw a modest increase of 2% compared to the first quarter of last year. Xiaomi, on the other hand, experienced a substantial revenue surge of over 30%. Conversely, Apple faced an 11% decline in revenue during the same period.
High-end smartphones, priced above US$800, demonstrated significant growth, making up 18% of total shipments. This trend reflects consumers’ growing preference for premium devices with advanced features.
Counterpoint Research also highlighted the rising trend of generative AI smartphones. More than ten manufacturers have launched over 30 such models, and it is projected that generative AI smartphones will account for 11% of total smartphone shipments this year. This shift underscores the increasing integration of AI technologies in the smartphone industry, catering to the evolving needs and preferences of consumers.
With the successful launch of the Galaxy S24 series and the growing influence of AI technologies, Samsung continues to solidify its leadership in the competitive global smartphone market.
