European Smartphone Shipments Show Growth in Q1 2024

TapTechNews May 23rd news, according to the latest report released by Counterpoint Research, the European smartphone shipments in the first quarter of 2024 increased by 10% year-on-year, ending the consecutive year-on-year decline since the third quarter of 2021.

TapTechNews attached the performance of major brands:

Samsung occupied 32% market share, and the shipments increased by 7% year-on-year, and the market share in the same period last year was 33%.

Apple occupied 25% market share, and the shipments decreased by 1% year-on-year, and the market share in the same period last year was 27%.

Xiaomi occupied 18% market share, and the shipments increased by 11% year-on-year, and the market share in the same period last year was also 18%.

realme occupied 4% market share, and the shipments increased by 59% year-on-year, and the market share in the same period last year was 3%.

Honor occupied 4% market share, and the shipments increased by 67% year-on-year, and the market share in the same period last year did not enter the Top.

When commenting on the market dynamics, Associate Director Jan Stryjak said:

It is exciting to see the European market finally recovering growth, although considering the badness of 2023, people should not be too excited. Nevertheless, the macroeconomic situation in the region is improving, and some impressive new devices, especially from companies such as Samsung, Xiaomi and Honor, have brought new optimism to the market. In particular, Samsung recovered its state in the first quarter of 2024, and its popular Galaxy S24 series helped it achieve year-on-year shipment growth for the first time since the fourth quarter of 2021. Elsewhere, Honor's unremitting efforts enabled it to surpass OPPO to occupy the fifth place for the first time, and the sub-brand TECNO of Transsion showed significant growth in Eastern Europe.

When looking forward to the prospects, Stryjak commented:

The European market is showing signs of recovery, and consumer confidence is improving, thanks to some interesting innovations around device-side artificial intelligence. But we are not out of the woods yet. Although we expect the market to grow in low single digits for the remainder of 2024, this is still against the extremely bad background of 2023, and we do not expect to return to the pre-pandemic level anytime soon.

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