Global Smartphone Market Report Q1 2024

According to a report by Canalys released on April 16th, smartphone shipments worldwide in the first quarter of 2024 saw an 11% year-on-year increase. With the active promotion of Galaxy AI, Samsung reclaimed the top spot with a 20% market share. Apple ranked second with a market share of 16%, facing challenges in its strategic focus markets. Xiaomi secured the third position with a 14% market share, leveraging the competitive advantage of its popular model, Redmi A3. Transsion held the fourth position with a 10% market share, while OPPO occupied the fifth position with an 8% market share.

Analysis suggests that the global smartphone market has had a promising start, showing significant improvement compared to the same period last year. Additionally, Apple is likely to unveil its AI strategy in 2024, providing an opportunity for the brand to drive the development of its high-end products and reignite product innovation across the entire ecosystem.

Canalys predicts a slight inventory adjustment in the second quarter of 2024, as channel partners aim to clear out inventory from the past few quarters to make room for new product releases in the latter half of the year, thereby achieving more sustainable growth.