CHART: US smartphone shipments in a slump for the sixth consecutive quarter in Q1 2024
Despite the market slump, Apple maintains a dominant position with a healthy 52% market share
- US smartphone market slumped for 6th straight quarter, down 8% YoY
- Carriers pushed for 5G, hurting the sub-$300 segment (mostly an Android market)
- Apple held a strong 52% market share as the budget Android segment struggled.
The US smartphone market continued on a rough patch in Q1 2024, with Counterpoint research reporting an 8% year-over-year (YoY) decline in shipments. This marked the sixth consecutive quarter of decline.
In the quarter, carriers saw declining upgrade rates and equipment revenues again showcasing the continued weak demand for smartphones in the market. A major factor in the decline was a stronger Q1 2023 due to delayed iPhone 14 Pro shipments.
Notably, the sub-$300 segment declined as carriers began pushing customers towards 5G smartphones. This segment relies heavily on the prepaid market, which is losing steam. As carriers prioritize 5G SKUs some OEMs (Original Equipment Manufacturers) are leaving the low-end market altogether.
Despite the market slump, Apple maintains a dominant position with a healthy 52% market share, partly due to the struggles of sub-$300 Android devices.
