Rédaction Africa Links 24 with Guardian Nigeria
Published on 2024-04-17 03:39:34
The global smartphone market experienced a resurgence in the first quarter of 2024, with Chinese vendors leading the charge in growth. The International Data Corporation (IDC) reported a major shift in the market, indicating that it is emerging stronger and changed from the challenges of the past two years.
According to IDC Research Director, Nabila Popal, the market is showing signs of continued growth in value and average selling prices (ASPs) as consumers are opting for more expensive devices with the intention of keeping them for a longer period of time. Shipments in the first quarter increased by 7.8 percent year-on-year to 289.4 million units, marking the third consecutive quarter of shipment growth.
While iPhone shipments decreased by 9.6 percent to 50.1 million units and Samsung’s shipments remained flat at 60.1 million units, market shares for both companies saw a slight decline. Apple’s market share dropped to 17.3 percent from 20.7 percent, while Samsung’s market share slipped to 20.8 percent from 22.5 percent. On the other hand, Xiaomi and Transsion experienced significant growth with 33.8 percent and 84.9 percent increases in shipments, totaling 40.8 million and 28.5 million units respectively.
IDC data also revealed that Oppo shipped 25.2 million devices in the first quarter, holding a market share of 8.7 percent. Despite the overall positive trend in the smartphone market, IDC pointed out that macroeconomic challenges still exist in certain markets. However, the record high shipments in Q1 signify a promising recovery trend for the industry.
Ryan Reith, Group Vice President of IDC’s Worldwide Mobility and Consumer Device Trackers, noted that smartphone recovery is progressing positively with increasing market optimism among top brands. While Apple had secured the top spot at the end of 2023, Samsung reclaimed its position as the leading smartphone provider in the first quarter of 2024. Reith predicted that both companies will continue to dominate the high-end segment of the market while Huawei’s resurgence in China and the growth of other players like Xiaomi, Transsion, Oppo/OnePlus, and vivo will drive competition and expansion in the industry.
As the recovery continues, top companies are expected to gain more market share while smaller brands may face challenges in positioning themselves. Popal emphasized the trend of consumers opting for higher-priced devices and highlighted the shifting power dynamics among the top five companies in the market. This transition is likely to shape the strategies of market players in a post-recovery world.
In conclusion, the smartphone market is on a path of recovery and growth, with Chinese vendors leading the way and major players adapting to changing market dynamics. Consumers are investing in premium devices with the intention of long-term usage, indicating a shift towards higher value and ASPs in the industry. The future of the smartphone market looks promising with continued innovation and competition driving the industry forward.
, the market is seeing a major shift.){kind=link}