Smartphone market shows signs of revival in Q1 2024
The global smartphone market kicked off 2024 with robust growth, recording an 11% year-on-year increase in shipments during the first quarter, according to research firm Canalys.
Samsung came out on top with a 20% market share, thanks to the positive reception of the Galaxy S24 series, with Apple in second place at 16%. Chinese vendors Xiaomi, Transsion, and Oppo filled out the remaining top 5 places.
Despite the upbeat quarter, Canalys Research Analyst Lucas Zhong is cautious about the growth prospects for the rest of the year, advising vendors to monitor inventory levels carefully amidst uncertain global economic conditions.
With Qualcomm customers like Samsung, Asus, Xiaomi, Oppo, and Honor aggressively promoting new generative AI features on their latest models featuring the Snapdragon 8 Gen 3 platform, Apple is going to have its work cut out to regain leadership of the smartphone market. All eyes are sure to turn to Apple’s WWDC (Worldwide Developers Conference) on June 10 to see what kind of AI magic the company will conjure up in response to the first serious competitive threat it has faced in many years.
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