As we are now in the second quarter of 2024, Canalys has released the market share of the top 5 phone brands for the first quarter. While Samsung bounces back to the top spot in 2024 and overtakes Apple once again, Transsion and Xiaomi maintained their rankings at 3rd and 4th respectively.
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Looking through the breakdown, only Transsion and Xiaomi experienced a positive annual growth in 2024 when compared to their market share in Q1 2023. Xiaomi experienced a 33% annual growth, while Transsion experienced a massive 86% growth.
Samsung’s return to the top is credited to the robust sales of the Galaxy S24 series, especially with the brand’s push for Galaxy AI. Xiaomi and Transsion, on the other hand, maintained solid annual growth with its increasing presence in the Middle East, Africa, and Latin America. Both Xiaomi and Transsion are credited in ramping up production and stockpiling components in anticipation of higher costs in Bill of Materials (BoM).
Transsion’s increased market presence is evident with its releases for the first quarter of 2024 that include the TECNO POVA 6 Pro, itel RS4, and Infinix NOTE 40 Pro+.
