Apple and Samsung ruled the smartphone market in the first quarter of 2024, capturing all top 10 spots for best-selling models globally, according to a new report from Counterpoint Research. This is a remarkable show of force from the two industry giants.
The iPhone 15 Pro Max was the undisputed leader, thanks to its impressive camera system, powerful A17 Bionic chip, and elegant design. It was followed by the iPhone 15 and iPhone 15 Pro rounding out the top three positions as Apple continued its stronghold over premium smartphone sales worldwide.
Apple’s stellar performance didn’t end there – the iPhone 14 claimed #4 while the larger iPhone 15 Plus secured #8, showcasing the brand’s appeal across multiple price tiers.
On the Android side, Samsung put up a strong fight. The Galaxy S24 Ultra at #5 won over consumers and reviewers alike with its versatile camera capabilities, bright display, and robust performance. The base Galaxy S24 model also made the cut at #9.
Samsung’s affordable but 5G-capable A-series phones proved incredibly popular too – the Galaxy A15 5G at #6, A54 at #7, and A34 at #10 offered excellent value propositions.
This Q1 2024 marked the first quarter where every top 10 best-selling smartphone worldwide was 5G capable according to Counterpoint’s research. As 5G networks expand, consumers are prioritizing future-proof connectivity.
“Consumers are holding onto their smartphones longer and opting for high-end models to ensure longevity through annual software updates,” said Counterpoint Research analysts. “This trend greatly benefitted premium flagships like the latest iPhone Pro and Galaxy Ultra series.”
Premium Devices Drive Record Revenue Growth
Despite relatively flat unit sales, the global smartphone industry hit new revenue highs in Q1 2024. This was propelled by Apple’s category dominance commanding over 41% market share, up from 38% a year prior.
Overall, smartphone average selling prices increased as manufacturers doubled down on premium product portfolios with robust cameras, fast chips, AI capabilities, and other must-have features for consumers.
Seven of the top 10 best-selling models fell into the premium ($600+ wholesale) pricing tier, a testament to the smartphone industry’s strategic focus on offering leaner but more capable flagship lineups.
Apple’s Pro iPhone Juggernaut
Apple’s pro-focused strategy paid off tremendously in early 2024. The Pro iPhone lineup contributed over 60% of the brand’s smartphone sales value, up from just 24% three years ago.
The Pro models’ multi-year chip leadership, innovative camera systems with improved low-light performance, longer battery life and other substantive upgrades proved highly compelling for consumers seeking the latest innovations.
“The Pro iPhones have transitioned into Apple’s major revenue drivers, capturing over half of the brand’s total smartphone sales in Q1 2024,” noted Counterpoint researchers. Apple’s mastery of product segmentation and pricing power were clear factors in this accomplishment.
Early 5G and Generative AI Adoption Boosted Samsung
While trailing Apple overall, Samsung’s strong Q1 performance stemmed from the early 2023 release of its flagship Galaxy S24 series well ahead of its traditional annual refresh cycle.
Additionally, hardware-level integration of generative AI capabilities, like automated photo editing and content creation gave the S24 models a notable advantage.
“The S24 was first to market with GenAI features, allowing unique content creation and enhanced user interactions,” wrote the Counterpoint analysts. “This differentiation boosted Samsung’s premium segment sales.”
Looking Ahead: Generative AI’s Sustained Impact
As generative AI and computational photography continue to rapidly evolve, Counterpoint analysts expect the premium flagship category to “capture a larger share of total smartphone sales in future quarters.”
With typical consumers now holding onto devices for 3+ years, cutting-edge AI-driven experiences and imaging capabilities rather than annual spec bumps will likely drive purchase decisions.
To capitalize on this trend, the report confirms “OEMs are focusing on leaner portfolios with premium features including Generative AI.” The smartphone market’s pivot toward innovative yet pricier handsets is clearly underway.
