Samsung has claimed the top spot in the burgeoning AI smartphone market for the first quarter of 2024. This dominance is largely attributed to the success of their Galaxy S24 series, particularly the flagship Galaxy S24 Ultra, which boasted over 30% of the market share for GenAI-capable smartphones. Generative AI (GenAI) refers to a type of artificial intelligence that can create entirely new content, from images and text to even music.
Top 10 smartphones supporting Gen AI in the first quarter. Photo: Counterpoint Research.
The overall smartphone market saw healthy growth of 11% year-on-year, with a significant portion of this growth driven by consumer interest in GenAI features. Samsung capitalized on this trend by strategically integrating advanced AI capabilities into their S24 lineup. This strategic move not only propelled them to the forefront of the AI smartphone market but also helped them recapture their position as the leading global smartphone manufacturer.
Counterpoint Research reports that GenAI-capable smartphones captured a mere 1.3% of the global market share in the previous quarter (Q4 2023). However, this figure skyrocketed to 6% in Q1 2024, highlighting the rapid adoption of this new technology. Interestingly, the premium segment held the majority share (over 70%) of GenAI smartphone sales, and Samsung dominated this space with a commanding 58% market share.
Looking ahead, Samsung’s MX Business aims to leverage the success of the S24 series by incorporating similar AI experiences into other flagship models. This strategic approach will likely see them maintain their competitive edge in the AI smartphone market. While the overall smartphone market might see a slowdown in Q2 due to seasonal trends, Samsung seems well-positioned to capitalize on the growing demand for AI-powered mobile experiences. Their commitment to continued investment in R&D, particularly in AI development, suggests that Samsung is determined to stay ahead of the curve in this rapidly evolving technological landscape.
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