According to recent data from International Data Corp, global smartphone shipments experienced an almost 8% increase in the first quarter, indicating a positive trend in the market. This growth trend also signifies the third successive quarter where smartphone shipments have seen an uptick, with Samsung regaining its position as the top smartphone manufacturer by shipping 60.1 million units during this period. On the other hand, Apple, which had held the top spot in the last quarter of 2023, came in second with 50.1 million units shipped, showcasing a slight decline of 9.6% from the previous year.
In terms of market dynamics, Xiaomi and Transsion, holding the third and fourth positions respectively, observed substantial growth in their market share compared to the previous year. Xiaomi's market share surged by 34%, while Transsion experienced a remarkable 85% increase in its market share. This growth in market share for these companies illustrates their ability to compete and expand their presence in the global smartphone market amidst stiff competition from established players.
Nabila Popal, a research director at IDC's Worldwide Tracker team, pointed out that the trend of increasing average selling prices of smartphones indicates a consumer shift towards purchasing more expensive devices. This shift is attributed to consumers' intention to hold onto their devices for longer periods, thus opting for higher-end smartphones that offer enhanced features and longevity.