Global Smartphone Market Dynamics: Samsung Surpasses Apple in Q1 2024

In the first quarter of 2024, the global smartphone market experienced a notable shift as Samsung overtook Apple, clinching the position of the leading smartphone manufacturer. This development is part of a broader market expansion, which saw overall shipments increase by 6% to nearly 297 million units.

Regional Growth and Market Challenges
The market’s growth was propelled by robust sales in Europe, the Middle East and Africa, Latin America, and notably in India, where strong inventory levels from the previous year fueled this surge. Contrastingly, mature markets like North America and Japan saw a downturn in sales, attributed to several market-specific challenges. Samsung’s ascent was significantly aided by the early release of its Galaxy-A series and the strong market reception of the Galaxy S24 series. This strategy not only boosted their market share but also elevated their average selling price to an all-time high for the quarter.

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