The company Counterpoint Research has just released a report on the smartphone market during the first quarter of 2024 and Samsung could not have received better news.
The South Korean giant surpassed its rival Apple by achieving a greater number of sales. But, in general, the smartphone market itself is to be congratulated for registering a growth of 6% with the sale of 296.9 million units.
Galaxy S24 series and AI features give Samsung the top spot
According to the Counterpoint Research report, Samsung now occupies first place, thanks to the sale of 59.4 million units in the first quarter of 2024, which guaranteed it a 20% market share.
The same consultancy company says that Samsung’s success is due to two factors. The first is, without a doubt, the launch of the Galaxy S24 series and its AI features.
The new smartphones have received good reviews internationally and the features based on Artificial Intelligence technology are proving to be quite popular among users.
The second reason was Samsung’s strategy of investing heavily in the premium segment of the smartphone market. According to the data released, this focus of the company is proving to be quite profitable.
Both the success of the new generation Galaxy S24 and the solidification of Samsung’s foldable smartphone market led to the brand recording significant growth in the European and North American markets.
Apple’s fall and Xiaomi’s growth
Now Samsung’s success translates into Apple’s fall to second place in the Counterpoint Research ranking. According to the consultancy company, Tim Cook’s company saw its shipments decrease by 13%, compared to the previous year. Now Apple has 17% market share.
In contrast, Xiaomi has every reason to celebrate. The Chinese brand occupies third place among the best sellers and emerged as the one that grew the most among the top five.
Xiaomi now has a 14% market share, thanks to the sale of 41.5 million units.
