More premium smartphones are sold by Samsung than by any other Android smartphone manufacturer. Even while Q1 2024 had its highest-ever average selling price (ASP) for smartphones, it still has a ways to go before surpassing Apple in terms of ASP and revenue. Samsung is the only Android OEM with three times the revenue from its smartphones.
More money is made by Samsung than by any other brand of Android smartphones.
The most recent report from Counterpoint Research claims that in the first quarter of 2024, Samsung held a 20% market share for smartphones worldwide. It overcame Apple, which topped the charts for smartphone shipments in Q4 2023. As a result of the Galaxy A54 and Galaxy S24's robust sales throughout the quarter, Samsung also achieved its highest-ever smartphone ASP. In Q1 2024, its ASP was $336, far below than Apple's ($900). The worldwide the period's smartphone ASP was $370. Year over year, the revenue of the smartphone market as a whole grew by 7%.Apple had a 41% revenue share in the first quarter of the year, compared to 18% for Samsung. In that market, other smartphone brands, including as Xiaomi, Vivo, and OPPO, made 6% or less. With a 14% market share, Xiaomi outpaced OPPO and Vivo, with 8% and 7%, respectively. Vivo's revenue share for the quarter was 4%, while Xiaomi's and OPPO's were 6%.
Tarun Pathak, research director at Counterpoint Research, stated that growth would likely be gradual but constant in the near future. But since the premiumization trend is likely to continue, revenues should climb more quickly. This is especially true given the emergence of additional form factors and capabilities like foldables and GenAI. Thus far, over ten OEMs have released over thirty smartphones with Gen AI capabilities by 2024, we predict that GenAI will account for 11% of all smartphone shipments.
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