Samsung sells more high-end smartphones than any other Android smartphone brand. Despite reaching its highest-ever smartphone average selling price (ASP) in Q1 2024, it has a lot of catching up with Apple regarding ASP and revenues. Samsung earns 3x more revenue from its smartphones than any other Android OEM.
Samsung earns 3x revenue than any other Android smartphone brand
According to Counterpoint Research's latest report, Samsung captured 20% share of the global smartphone market in Q1 2024. It defeated Apple, which won the smartphone shipments crown in Q4 2023. Samsung also recorded its highest-ever smartphone ASP during the quarter, thanks to strong sales of the Galaxy A54 and the Galaxy S24. Its ASP was $336 during Q1 2024, a lot behind Apple's ($900). The global smartphone ASP during the period was $370. The revenue of the overall smartphone market increased by 7% year-over-year.
Samsung's revenue share during the first quarter of the year was 18%, while Apple's was 41%. Other smartphone brands, including OPPO, Vivo, and Xiaomi, earned 6% or less in that market. Xiaomi's market share was 14%, while that of OPPO's and Vivo's was 8% and 7%, respectively. Xiaomi's and OPPO's revenue share was 6%, while that of Vivo was 4% during the quarter.
Counterpoint Research's Research Director Tarun Pathak said, “Growth is expected to be slow but steady in the near term. However, revenues are expected to grow faster as the ongoing premiumization trend is likely to persist, especially with the rise of newer form factors and capabilities such as foldables and GenAI. More than 10 OEMs have launched over 30 GenAI-capable smartphones so far. We estimate that GenAI’s share of overall smartphone shipments will reach 11% by 2024.”
