According to preliminary data from the latest global quarterly mobile phone tracking report released by market research firm IDC, global smartphone shipments in the first quarter of 2024 increased by 7.8% year-on-year to 289.4 million units.

While the industry is not completely out of the woods yet, as macroeconomic challenges remain in many markets, this marks the third consecutive quarter of growth in shipments, a strong indication that recovery is well underway.

The report pointed out that Samsung Electronics regained the top spot in Q1 this year, with shipments of 60.1 million units, a year-on-year decline of 0.7%, and a market share of 20.8%; Apple ranked second, with shipments of 50.1 million units, a year-on-year decline of 9.6%, and a market share of 17.3%; Xiaomi rebounded with a year-on-year growth of 33.8%, with shipments of 40.8 million units and a market share of 14.1%, narrowing the gap with second-place Apple; budget-focused brand Transsion ranked fourth, with shipments soaring 84.9% to 28.5 million units, and a market share of 9.9%; OPPO ranked fifth, with shipments of 25.2 million units, a year-on-year decline of 8.5%, and a market share of 8.7%.

2024Q1 Global Smartphone Shipments, Market Share and Year-on-Year Growth TOP 5 (Shipments Unit: Millions of Units)

Source: IDC Quarterly Mobile Phone Tracker

Apple has struggled to maintain sales in China, the world's largest smartphone market, since launching its latest generation iPhone 15 in September last year. These problems are affecting its global performance. According to preliminary data from IDC, Apple's iPhone shipments fell by 5 million units from a year ago.

"The smartphone market is emerging from the turbulence of the past two years to become stronger and more transformed," said Nabila Popal, research director at IDC. "While the top two vendors both saw negative growth in the first quarter, Samsung appears to be in a better position overall than in recent quarters."

IDC analysts found that the average selling price of mobile phones is rising as consumers increasingly choose high-end models that they intend to hold for a long time. Apple's iPhone 15 Pro device sales may be higher, leading to higher unit revenue. However, the company has also had to resort to unusual discounts to stimulate sales, with some retail partners in China offering $180 off the normal price.