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Of the top five global smartphone manufacturers, China’s Transsion was the fastest growing smartphone manufacturer during Q1
The market share of the global smartphone industry held by Apple and the iPhone declined to 16% from the year earlier 21%. That works out to a rather steep 24% decline in market share for Team iOS from January through March. Xiaomi finished 2024’s opening quarter in third with a 14% global market share. That is up 27% from the 11% share that the value-for-money manufacturer earned during the first quarter of 2023.
Chinese manufacturer Transsion is the company behind smartphone brands such as Tecno, Itel, Infinix, Oraimo, Syinix, and Carlcare. Transsion saw its share of the market rise 67% from 6% during Q1 of 2023 to 10% during the same time period this year. And that leaves Oppo. The latter suffered a 20% decline in global smartphone market share during Q1 2024 as that figure declined year-over-year from 10% to 8%.
Overall, global smartphone shipments rose 11% on an annual basis during the first quarter of 2024. Canalys Analyst Le Xuan Chiew notes that the smartphone market has rebounded with high-end handset manufacturers trying to set their phones apart from rival premium models by offering different AI features and services. Chiew writes, “All eyes are on Apple in 2024, which is highly likely to make an AI announcement that would provide opportunities for the brand to drive its premium offerings and reignite product innovation across its ecosystem.”
