Sources: counterpointresearch
In Q1 2024, Apple and Samsung dominated the top 10 best-selling smartphones list, with each brand securing five positions. Counterpoint Research’s Global Monthly Handset Model Sales Tracker reported that this was the first quarter where all top 10 smartphones were 5G capable. Additionally, there was a noticeable trend towards premiumization, with seven out of the top 10 smartphones being categorized as premium, with a wholesale price of $600 and above.
The iPhone 15 Pro Max emerged as the best-selling smartphone of Q1 2024, marking the first time the Pro Max variant reached the top position in Apple’s non-seasonal quarter. This underscores a growing preference among consumers for high-end smartphones. All four iPhone 15 variants, along with the iPhone 14, made it to the top 10 bestsellers, with the iPhone 15 lineup securing the top three spots.
Apple’s Pro lineup saw significant growth, capturing half of the brand’s total sales in Q1 2024, a substantial increase from 24% in Q1 2020. These Pro iPhones have become major revenue drivers for Apple, contributing over 60% of its sales value in the quarter. Offering substantial upgrades and significant enhancements over the base models, the Pro lineup has been successful in attracting consumers willing to pay for premium features. Notable features of the Pro lineup include an innovative dynamic island interface, advanced chipsets, ultra-smooth displays, titanium chassis, and a telephoto camera. Despite a price increase, the iPhone 15 Pro Max performed well, indicating strong consumer demand for the added features it offers.
Samsung’s Galaxy S24 series secured two spots in the top 10 for Q1 2024, with the Ultra variant ranking fifth and the base variant ninth. The series’ strong performance can be attributed to Samsung’s early refresh of the lineup and its focus on generative AI (GenAI) technology. The S24 series was the first to market with GenAI features, allowing users to create unique content and experience enhanced interaction with their smartphones.
As consumers hold onto their smartphones for longer periods due to limited differentiation in features with upgrades, there is a growing preference for high-end smartphones to ensure technological relevance over time. Looking ahead, it is expected that the top 10 best-selling smartphones will capture a larger share of total smartphone sales as OEMs prioritize leaner portfolios with premium features, including GenAI.
