The global smartphone market showed signs of recovery in the first quarter of the year, with shipments increasing by 6% year-on-year, reaching a total of 296.9 million units. Samsung has taken the top spot in the market, overtaking Apple, according to data released by Counterpoint Research. Despite declining shipments for Apple, it still led the smartphone market in terms of revenue, holding a 43% share. On the other hand, Samsung’s revenue grew by 2%.
Samsung captured 20% of the shipment market share, up from 17% in the previous quarter, while Apple saw its share fall to 17%, with shipments declining 13% year over year. The market growth was mainly attributed to robust performance in Europe, the Middle East and Africa, the Caribbean and Latin America. Prachir Singh, senior analyst at Counterpoint, highlighted that the MEA region was the most dynamic, thanks to strong shipments from brands such as Tecno, Xiaomi and Honor. He also noted that shipments to China were boosted by solid sales during the Lunar New Year and Huawei’s return to the market.
Meanwhile, smartphone shipments rose 7.8% to 289.4 million units in Q1 2023 and reported third consecutive quarters of growth according to IDC analyst firm
