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Xiaomi storms MEA smartphone market with 82% growth in Q1 2024, Itel knocks Apple off top 5

Hillary Keverenge by Hillary Keverenge
May 30, 2024
in News
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The Middle East and Africa’s smartphone market experienced a 6% growth in Q1 2024, with Xiaomi and Itel emerging as the standout performers. According to the latest report published by Counterpoint Research, Chinese brand Xiaomi reported a staggering 82% increase in shipments compared to the same period last year, nearly doubling its market share in the region. This remarkable surge is attributed to improved product availability, expanded geographic reach, and the early launch of the Redmi 13 series. So far, only the Redmi 13C has been officially launched in Kenya, but it won’t be long before it gets company.

Adding to the shakeup, Itel, a Transsion Holdings brand, broke into the top five for the first time, displacing Apple. Interestingly, this happened while still retaining the same 6% market share recorded in Q1 2023. This suggests Apple saw a significant drop from last quarter’s 8% market share that pushed iPhone demand below Itel. The report also credits this achievement to Itel’s well-timed model refresh and strong presence in the lower segment.

Samsung reclaimed its top position in the MEA region after being overtaken by Tecno in Q4 2023. Despite a 10% drop in shipments year-over-year, the South Korean giant’s focus on lower-mid-end smartphones is paying off, signaling a rebound from a lackluster holiday season. The company has already unveiled a host of devices in the Galaxy A series, including the Galaxy A35 and A55.

Transsion Holdings, the parent company of Tecno, Infinix, and Itel, remained the dominant player in the region, accounting for 30% of the market share. However, this figure represents a significant decrease from the previous quarter’s all-time high of 36%, primarily due to fierce competition. Tecno continued to perform well in the lower and mid-range segments, but at the expense of its sister brand, Infinix, which saw a 16% decline in shipments.

 

MEA-smartphone-market-share-Q1-2024

Apple dropped out of the top five in the MEA region, a significant shift from its usual strong presence in the market. The iPhone 15 series’ lukewarm reception and economic challenges in Israel, traditionally a significant market for Apple, contributed to this decline.

READ:  Deal: Xiaomi Kenya has the Mi MIX 2S going for Sh 34,999

Despite the overall growth in the MEA smartphone market, there’s a sense of anticipation for the next catalyst to fuel further momentum. According to Counterpoint’s Senior Analyst Yang Wang, “The rebound in consumer sentiment due to improving economic conditions is now in the rearview mirror, and smartphone players are waiting for the next catalyst while consolidating their market positions.”

However, the market is expected to pick up pace towards the end of Q2 2024, as Q1 is typically a quieter off-season period. While short-term challenges like geopolitical conflicts, currency fluctuations in some African countries, and elections may pose temporary setbacks, the long-term growth prospects for the smartphone market in the MEA region remain promising.

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