Counterpoint: The global smartphone market will grow by 6% year-on-year in Q1 2024, with Samsung regaining the first place

IT House News on May 7, according to the latest research from Counterpoint market monitoring service, global smartphone shipments will increase by 6% year-on-year in the first quarter of 2024. Growth was mainly due to strong performance in key regions such as Europe, the Middle East and Africa (MEA) and the Caribbean and Latin America (CALA). In the first quarter of 2024, the global smartphone market grew 6% year-on-year, with shipments reaching 296.9 million units. Global smartphone revenue also rose 7% year-over-year to a record high. IT House learned from the report that in the first quarter of 2024, Samsung, Apple, Xiaomi, OPPO, and vivo ranked among the top five in global market share: Samsung replaced Apple and became the manufacturer with the largest smartphone shipments in the world, with a market share of 20% . Apple's shipments fell 13% year-over-year due to massive inventory buildup in the last quarter. However, the brand's average selling price (ASP) increased 2% year-on-year. Among the top five mobile phone manufacturers, Xiaomi's shipments grew the fastest, with a year-on-year increase of 34%.

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