European smartphone market recovers strongly in Q1: Samsung, Apple, Xiaomi lead the way

According to the latest Counterpoint Research report, in the first quarter of 2024, the European smartphone market ushered in a strong recovery, with shipments increasing by 10% year-on-year, ending the continuous decline since the third quarter of 2021. Downward trend.

Data shows that Samsung, Apple and Xiaomi still rank among the top three in the European market. Among them, Samsung topped the list with a 32% market share, and its shipments increased by 7% year-on-year, which was the first growth since the fourth quarter of 2021.

Apple followed closely with a 25% market share, maintaining a strong market position despite a slight decline in shipments. Xiaomi, with a market share of 18%, saw shipments increase by 11% year-on-year, showing solid performance.

In a market dynamics comment, Jan Stryjak, associate director at Counterpoint Research, said the recovery in the European market is encouraging, despite taking into account the challenges in 2023.

He pointed out that the improvement of macroeconomic conditions and the launch of new products by some manufacturers such as Samsung, Xiaomi and Honor have brought new optimism to the market.

In particular, Samsung’s Galaxy S24 series achieved year-on-year growth in shipments in the first quarter, which is an eye-catching result. In addition, Honor also performed well, occupying fifth place in market share.

However, Stryjak also pointed out that although the European market is showing signs of recovery, the market is not completely out of the woods yet. Although it is expected to continue to grow at low single digits for the remainder of 2024, considering the difficult situation in 2023, it will still take some time for the market to return to pre-pandemic levels.

Editor’s comment:

Generally speaking, the recovery of the European smartphone market has brought new hope to manufacturers and consumers, especially with the With the continuous emergence of new technologies and intensified market competition, future development is still full of challenges and opportunities.

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