Apple’s iPhone 15 Pro Max was the best-selling smartphone in the first quarter of 2024, a report has shown.
Apple and Samsung dominated the top 10 best-selling smartphones list during the same period, figures compiled by Counterpoint Research show.
The two manufacturers captured five positions each, leaving no spot for other brands.
This was the first quarter in which the top 10 smartphones were all 5G capable, Counterpoint said.
Three variants of the iPhone 15 took the top three spots, while another, the iPhone 15 Plus, was the eighth best seller.
The iPhone 14, in fourth position, was the other top performer for Apple, the rankings show.
Samsung's best performer was the Galaxy S24 Ultra, which was the fifth most sold phone in the quarter.
The base Galaxy S24 model came in ninth.
Three other Samsung models – the Galaxy A15 5G, Galaxy A54 and Galaxy A34 – placed sixth, seventh and tenth respectively.
“Consumers are holding onto their smartphones for longer periods because upgrades are offering limited differentiation in features,” Counterpoint Research said.
“This leads consumers to opt for high-end smartphones to ensure their devices remain technologically relevant for a longer duration.”
Global smartphone revenue hit a new high in the first quarter of 2024, led by Apple and higher sales in key regions around the world, a separate study this month by Counterpoint Research showed.
Revenue in the industry jumped 7 per cent to reach its highest level for a March quarter. However, Counterpoint did not provide estimates on the actual value of the revenue.
Smartphone manufacturers typically do not report a breakdown of their sales. Apple's iPhone sales in the first quarter are estimated at around $69.7 billion, according to industry analysts.
Apple commanded 41 per cent of first-quarter revenue as it also posted its highest first-quarter average selling price of $900, up from $880 a year ago, it added.
Samsung Electronics came in at second with an 18 per cent share, followed by Xiaomi and Oppo, with 6 per cent each, and Vivo with 4 per cent. The four companies’ ASPs were $336, $159, $257 and $211, respectively.
The trend towards premium was evident, with seven of the top 10 smartphones being in that category, with the wholesale price at $600 and above, Counterpoint said in its latest report.
“Going forward, we expect the top 10 best-selling smartphones to capture a larger share of total smartphone sales as original equipment manufacturers are focusing on leaner portfolios with premium features, including Generative AI,” the report added.
The Pro Max variant achieved the top position for the first time in Apple’s non-seasonal quarter, reflecting an increasing trend of consumer preference for high-end smartphones, the study found.
The growing popularity of the Apple Pro line-up was evident, as it captured half of Apple’s total sales in the first quarter of 2024, a significant increase from 24 per cent in the same period in 2020, according to Counterpoint research.
“The Pro iPhones have become major revenue drivers for Apple, contributing more than 60 per cent of its sales value in the first quarter of this year,” the consultancy said.
“The Pro line-up offers substantial upgrades and significant enhancements over the base models. This strategic move has proven successful, as consumers are willing to pay for premium features.”
Meanwhile, the strong performance of the S24 series can be attributed to Samsung’s early refresh of the series and its efforts in generative AI technology.
“The S24 series was the first to reach the market with GenAI features and capabilities, allowing users to create unique content and experience a new level of interaction with their smartphones,” the report said.
Best-selling smartphones in first quarter of 2024
- iPhone 15 Pro Max
- iPhone 15
- iPhone 15 Pro
- iPhone 14
- Galaxy S24 Ultra
- Galaxy A15 5G
- Galaxy A54
- iPhone 15 Plus
- Galaxy S24
- Galaxy A34
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
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The view from The National
Ahmed Raza
UAE cricket captain
Age: 31
Born: Sharjah
Role: Left-arm spinner
One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95
T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Correspondents
By Tim Murphy
(Grove Press)
