Samsung surpasses Apple in mobile phone shipments in Q1 2024, securing 20.8% market share

The first quarter of 2024 saw a significant shift in the global mobile phone market as Samsung took the lead over long-time rival Apple. According to Stocklytics.com, Samsung’s market share reached 20.8%, overtaking Apple’s share and claiming the top spot in global mobile phone shipments. This development is a testament to Samsung’s relentless innovation and strategic products that have allowed the company to stay ahead of its competitors.

Stocklytics financial analyst Edith Reeds said:

The introduction of the Galaxy Series 24, featuring an integrated AI system, played a key role in bringing Samsung to the fore. This technology-driven strategy not only improved the user experience, but also significantly fueled Samsung’s expansion.

The competitive landscape

The smartphone industry has been a battleground for Samsung and Apple for more than a decade. Both companies are consistently launching new products, striving for market supremacy. The results for the first quarter of 2024 are a reflection of this continued competition. Samsung’s successful launch of the Galaxy Series 24 on January 31, which introduced new Galaxy AI features such as live translation and transcription assistance, played a crucial role in the company’s significant leadership. With over 60 million shipments, Samsung surpassed Apple’s 50.1 million iPhones during that period. Brands like Samsung, Apple, Huawei, Xiaomi and others are constantly striving for innovation. They differentiate their products and capture market share in a dynamic and fast-moving environment.

Samsung performance

Samsung’s performance in the smartphone market in the first quarter of 2024 was marked by a significant revival, with the company regaining its position as the leading global smartphone brand. Capturing over 20% market share and shipping over 60 million units, the success of Samsung’s mobile phone shipments is due to the launch of the Galaxy S24 series. This flagship range introduced innovative AI features and garnered positive reviews, contributing to Samsung’s strong performance in the first quarter of the year.

A key factor in Samsung’s success was its strategic focus on premium phones, which turned out to be more profitable for the company. The Galaxy S24 series, with its cutting-edge technology and premium design, has resonated well with consumers, leading to increased market share in regions such as Europe and the United States. Samsung’s emphasis on dominating the premium phone market has further cemented its position as a leading player in the global smartphone industry.

Samsung’s ability to adapt its strategies, launch innovative products and take advantage of market opportunities demonstrates its resilience and competitiveness in the dynamic smartphone landscape. The positive response to foldable phones, along with the success of the Galaxy S24 series, underscored Samsung’s commitment to delivering high-quality, innovative devices to meet the changing needs of consumers. With a strong performance in the first quarter of 2024, Samsung demonstrated its strength in the smartphone market and its ability to maintain a leadership position through strategic product offerings and market positioning.

Apple productivity

Apple, on the other hand, lagged significantly from its performance in the first quarter of 2023, where it sold over 55.4 million units. Although the company saw a significant increase in sales in December, which allowed it to overtake Samsung as the leading smartphone maker with a total of 232 million units for the year, its results for Q1 2024 were less impressive. The company’s Q1 2024 mobile phone shipment is around 50.1 million units. This is a far cry from the same period last year. The upcoming iPhone 16 series could help the company recover.

Despite the low delivery, Apple recorded a stable financial position. The company reported impressive revenue and earnings that exceeded market expectations. Apple reported revenue of $119.6 billion, up 2% year-over-year, and achieved an all-time record quarterly earnings per share of $2.18, marking a 16% year-over-year increase. Notably, the company’s services business saw significant growth, reaching $23.12 billion in sales, while iPhone revenue came in at $69.70 billion, beating expectations.

Despite the decline in sales in China, Apple’s overall performance was strong, with the company’s gross margin rising to 45.9% and net income reaching $33.92 billion, a 13% increase over the same period last year. Apple’s strategic focus on innovation and customer satisfaction was evident in the product line. This includes the successful launch of the iPhone 15 line and new products such as the Apple Vision Pro.

Xiaomi and other competitors

Next to Apple was Xiaomi, which won third place with a solid market share of 14.1% in Q1 2024. Transsion and OPPO followed with market shares of 9.9% and 8.7%, respectively. Huawei, once a major player in the market, was pushed out of the top five vendors. The company’s struggles are evident in its sales figures, which fell more than 19% year-on-year.

Global smartphone sales

Global smartphone shipments rose 7.8% to 289.4 million units in January-March. The top five suppliers are major contributors to these sales. However, other smartphone brands control a significant market share close to 30%. This diversity in the market is a testament to the increasing competition and innovation in the industry.

Future perspective

Analysts predict a full recovery for the smartphone industry later this year. Samsung and Apple should maintain their dominance. Huawei is now back in China with 70% year-on-year growth in the first quarter. Analysts expect the Chinese brand to continue its revival. The company’s ability to subdue Apple’s dominance in China is a significant development. It highlights the growing importance of the Chinese market in the global smartphone landscape.

Conclusion

The results of the first quarter of 2024 mark a change in the global mobile phone market. Samsung takes the lead over Apple. Samsung’s successful launch of the Galaxy 24 and focus on innovation have allowed the company to stay ahead of its competitors. Apple, despite struggling in Q1 2024, should regain its footing with the launch of the iPhone 16. The global smartphone industry is expected to continue to grow. Samsung and Apple should maintain their supremacy, and Huawei is gradually making a comeback.