This marked the region’s first YoY increase in shipments since Q3 2021, suggesting the worst is over. However, shipments were still well below pre-pandemic levels, and given that Q1 2023 witnessed the lowest shipments in Europe for over a decade, market growth should be treated with caution for the year ahead.
Nevertheless, macroeconomic conditions in the region and new devices, especially from Samsung, Xiaomi and HONOR, have boosted the market.
In particular, Samsung saw a return to form in Q1 2024, with its popular Galaxy S24 series helping it register YoY growth in shipments for the first time since Q4 2021. Elsewhere, HONOR’s relentless march saw it overtake OPPO to capture the fifth position for the first time, while Transsion’s sub-brand TECNO grew significantly in Eastern Europe.
