Market research firm Counterpoint Research reported that smartphone shipments in Europe increased by 10% year-on-year in the first quarter of 2024. This marks the first annual growth since the third quarter of 2021, signaling signs of recovery in the smartphone market. However, shipments remain significantly below pre-pandemic levels. The top companies in the market have remained the same, but there have been shifts in their market shares.
Samsung’s Strong Performance
According to the report, Samsung experienced annual growth in shipments for the first time since the fourth quarter of 2021, thanks to strong sales of the Galaxy S24 series. Samsung’s shipments grew by 7% year-on-year, attributed to the AI-powered Galaxy S24 lineup. The growth is expected to continue into the second quarter with the new Galaxy A35 and A55 models. Samsung’s market share in the first quarter of 2024 was 32%, maintaining its leadership.
Decline in Apple’s Shipments
Apple’s shipments decreased by 1% year-on-year due to the seasonal decline in iPhone 15 sales. The company’s market share stood at 25%. With no iPhone SE expected in 2024, shipments are anticipated to continue declining until the launch of the iPhone 16 later in the year.
Xiaomi’s Recovery Process
Xiaomi continued its recovery with an 11% increase in shipments year-on-year after several challenging years. The company’s market share reached 18%.
Other Notable Players
Other notable brands include Realme, which achieved a 59% growth and a 4% market share, and Honor, which recorded a significant 67% growth, surpassing Oppo. Honor’s strong growth continues, while Transsion’s sub-brand Tecno has shown significant growth in Eastern Europe.