Xiaomi emerged as the clear winner among the top 3 smartphone manufacturers.
In the first quarter of 2024, the global smartphone market grew by 10% year-on-year, reaching 296.2 million device sales. That’s particularly strong growth after ten solid quarters. This growth was primarily supported by new products and economic stability in developing countries.
Samsung regained the lead by shipping more than 60 million Galaxy smartphones, while Apple dropped to second place with 48.7 million devices shipped.
Samsung’s new Galaxy S24, which was launched a little earlier than its predecessor model, plays an important role and brings with it innovative AI functions (Galaxy AI) which obviously promotes high sales figures. Early launch and strong retail presence helped.
Much of Xiaomi’s growth, Samsung loses less than Apple
Xiaomi and TRANSSION also achieved good sales as they focused on increased demand in recovering markets such as the Middle East, Africa and Latin America. They ramped up production and took other precautions to prepare for possible cost increases.
Xiaomi in particular has recovered from several difficult years of uncertainty and, unlike Samsung and Apple, grew by 33 percent in the first quarter of 2024 compared to the same period last year. Despite strong Galaxy S24 sales, Samsung suffered a slight loss.
Going into 2024, it’s important for smartphone manufacturers to remain vigilant and focus on improving efficiency and supply chains. Also, the development and introduction of AI technology for smartphones is becoming more important. Manufacturers are trying to offer innovative AI features.
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