Global smartphone shipments increased 7.8% year-over-year to 289.4 million units in the first quarter of 2024.
This is according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker.
While the industry is not completely out of the woods, IDC says as macro-economic challenges remain in many markets, this marks the third consecutive quarter of shipment growth, a strong indicator that a recovery is well under way.
“As expected, smartphone recovery continues to move forward, with market optimism slowly building among the top brands,” says Ryan Reith, group vice-president of IDC's Worldwide Mobility and Consumer Device Trackers.
“Apple managed to capture the top spot at the end of 2023 and Samsung successfully reasserted itself as the leading smartphone provider in the first quarter.
“While IDC expects these two companies to maintain their hold on the high end of the market, the resurgence of Huawei in China, as well as notable gains from Xiaomi, Transsion, OPPO/OnePlus, and Vivo will likely have both OEMs [original equipment manufacturers] looking for areas to expand and diversify.
“As the recovery progresses, we're likely to see the top companies gain share as the smaller brands struggle for positioning."
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