Chinese smartphone maker Xiaomi remained the world’s third-largest smartphone vendor by shipments in the first quarter, as the company shores up its position as a top brand in a market that reached double-digit growth after 10 quarters of sluggish or declining growth. Global smartphone shipments were up 10% year-on-year, reaching 296.2 million units from January to March, according to consultancy firm Canalys. Samsung Electronics replaced Apple at the top of the list with a 20% share of shipments, accounting for 60 million units. The iPhone maker had 16% of the market, shipping 48.7 million units. Xiaomi’s 40.7 million units shipped gave it a 14% market share for the quarter. Xiaomi shipments, which include its sub-brand Poco, are up 33% from the same period last year. “Mass-market brands are riding the wave of rebounding emerging markets, while cautiously stocking components,” Canalys Analyst Runar Bjørhovde said in a statement. The strong performances of Beijing-based Xiaomi and Shenzhen-based Transsion, which came in fourth with a 9% market share, are “driven by strong shipments of their latest models in the Middle East, African, and Latin American markets”, he added.
Samsung’s smartphone and network business posted an operating profit of USD2.5 million, aided by strong sales of the Galaxy S24 series smartphones, according to its latest earnings release. Embedded artificial intelligence (AI) features in the Galaxy S24, which launched in January, have helped drive sales. “Samsung’s S24 launch reflects a pivotal moment in its AI and premium strategy, with the potential to reshape the industry,” Canalys Senior Analyst Sanyam Chaurasia said in a statement. iPhone shipments fell 16% year-on-year in the quarter. Apple’s decline comes as it faces headwinds in core markets, according to Canalys. In China, the world’s largest smartphone market, Apple's sales declined 19.1% in the first quarter, with its market share in the country shrinking to 15.7% from 20% a year ago, according to Counterpoint. Amid fierce competition in China, Apple ranked third in the country after Chinese manufacturers Vivo and Huawei spin-off Honor, which secured shares of 17.4% and 16.1%, respectively, the South China Morning Post reports.
