showed encouraging signs of life in the first quarter of 2024, shaking off a prolonged slump with a 10% year-on-year increase in shipments, according to Counterpoint Research. This marks the first positive growth since the third quarter of 2021, suggesting a potential turning point for the region.maintained their dominance, but the story within the top three is one of contrasting fortunes. Samsung, with a 7% shipment increase, emerged as the market leader with a 32% share.
Xiaomi displayed consistent growth with an 11% shipment increase, solidifying its position as the third-largest player with an 18% share. Their success story was particularly prominent in Western Europe, especially in Spain and Italy, driven by the well-received Redmi Note 13 series. However, Xiaomi faced challenges in Central and Eastern Europe, where rising competition from Samsung and Tecno pushed their market share to its lowest since early 2022.
Another notable player is Honor, which achieved a remarkable 67% growth, surpassing Oppo to capture the coveted fifth position in Europe for the first time. This impressive feat was driven by their success in Western Europe, where shipments doubled year-on-year thanks to exciting devices like the While the recovery is promising, Counterpoint Research analyst Jan Stryjak cautions against excessive optimism. The 2023 slump was significant, and the European market is still far from pre-pandemic levels. Growth is expected to continue at a modest pace throughout the rest of 2024, but catching up to pre-pandemic numbers will likely take longer.