Huawei ranks third in Q1 2024 global premium phone market: Canalys

Huawei is retaining the third spot in the global premium phone market in Q1 2024, shows the new Canalys report. The research firm now shared the analysis of the high-end smartphone sales ($600 or above) for both the worldwide and Chinese markets.

Canalys highlights the growth of AI phones, premium/5G handsets, and foldable devices. It also shed light on the global and Chinese smartphone market, once again.

Among the top tech vendors, Huawei ranked third in the Q1 2024 global premium phone market with a 6% market share and 67% YoY progress. In the home ground, the company secured second sport with a 26% unit share and 67% YoY increment.

Q1 2024 global premium phone market report (Image Credits: Canalys)

The Chinese phone maker is also doing great in the foldable category and surpassed some major brands like Samsung. You can learn more on this topic below.

• Huawei defeats Samsung in Q1 2024 global foldable race
• Huawei tops Q1 2024 Chinese smartphone market, thanks Mate and Nova series

Q1 2024 Chinese premium phone market report (Image Credits: Canalys)

Other Rankers:

Apple is in first position for $600 or above premium phone shipments in the global market. Despite a 60% market share, the company dropped to 11% YoY.

Samsung grabbed the second sport with a global market share of 25% as well as an increment of 29% in annual growth compared to the previous year. Google and Honor stand in fourth (3% market share) and fifth (2% market share) position respectively.

Canalys further foresees that the global smartphone market will likely sell over 1.18 billion units. AI sector on the other hand will enable brands like Apple to ship 5.7 million units with a 48% market share this year.

Xiaomi has already shipped 1.6 million AI phones in China, whereas, Vivo, OPPO, and Honor follow the sequence with 13%, 11%, and 10% market share respectively.

Q1 2024 AI smartphone market prediction (Image Credits: Canalys)

The 5G phone market is gradually moving forward to a new success and could boost its shipment by 67% this year, increasing this number to 86% in 2028. The global foldable may also see a rise of 5.3 million unit shipments from 2024 to 2028.

Q1 2024 5G smartphone market prediction (Image Credits: Canalys)

(Source – Canalys)