Canalys: Global smartphone market grows by 11% in Q1, Transsion enters top 4
Global smartphone shipments are up by 11% in Q1 of 2024 as per the latest Canalys report. Consumer demand has picked up momentum thanks to the more favorable economic climate.
Samsung regained the top spot with an estimated 20% market share backed by strong demand for the Galaxy S24 series and its Galaxy AI. Apple came in second with a 16% share of the market with less than stellar demand for its iPhone following a strong Q4 where Cupertino topped the charts. Xiaomi rounded off the top-three podium with a 14% share of the market thanks to solid demand for its Redmi series in the entry-level segment.
Transsion Holdings which owns the Tecno, Infinix, and itel brands made the largest leap and now stands at fourth place with an estimated 10% of global smartphone shipments. Oppo came in fifth place with 8% of the global smartphone market.
Looking ahead, Canalys expects vendors to explore their options in emerging regions including Latin America and Southeast Asia with rising demand for smartphones and high-end devices.