According to preliminary data from Worldwide Quarterly Mobile Phone Tracker de International Data Corporation (IDC), Global smartphone shipments increased 7.8% year-on-year in the first quarter of 2024 and reached 289.4 million units. The industry is not completely out of the woods, as macroeconomic challenges persist in many markets, but this is the third consecutive quarter of growth, a strong indicator that the recovery is well underway.

“The smartphone market is emerging stronger and different from the turbulence of the last two years,” he said. Nabila Popal, Research Director of IDC's Worldwide Tracker team. "First, we continue to see growth in value and average selling prices (ASP), as consumers opt for more expensive devices knowing they will keep them longer. Second, there is a power shift among the top five companies that is likely to continue as market players adjust their strategies in a post-recovery world. Xiaomi is recovering strongly from the big declines experienced in the last two years and Transsion is becoming a stable presence in the Top 5, with aggressive growth in "On the contrary, while the two main operators registered negative growth in the first quarter, Samsung appears to be in a stronger position, overall, than in recent quarters."