According to new figures, Samsung has regained its position as the world’s largest mobile phone maker after being beaten by Apple late last year.

According to the latest quarterly data from research firm IDC, global smartphone shipments rose 7.8 percent compared to the same period last year, but Apple shipments fell nearly 10 percent.

This means Samsung has regained the top spot among phone makers with a market share of 20.8 percent, ahead of iPhone maker Apple, which is in second place with 17.3 percent – after the two companies swapped places in the last three months of 2023.

Earlier this month, Samsung released an update forecasting that the company’s profit in the first three months of 2024 would be more than 10 times higher than in the same period last year, thanks in part to strong smartphone sales.

According to figures from IDC, the resurgence of Chinese brands such as Huawei is the reason for the increase in the total number of mobile phones shipped, but is also taking market share away from Apple.

Another Chinese brand, Xiaomi, is in third place with a market share of 14.1 percent. Shipments have increased by almost 34 percent compared to the same period last year, while two other Chinese companies, Transsion and Oppo, complete the top five.

According to the figures, a total of 289.4 million phones were shipped in the first quarter of 2024, compared to 268.5 million in the same period last year.

Nabila Popal, research director for IDC’s global tracker team, said: “The smartphone market is emerging from the turbulence of the past two years stronger but also changed.

“First, we continue to see growth in value and average selling prices (ASPs) as consumers opt for more expensive devices knowing they will keep them longer.

“Second, there is a shift in power among the top five companies that is likely to continue as market participants adjust their strategies in a post-recovery world.

“Xiaomi is recovering strongly from the sharp declines of the past two years and Transsion is developing a stable presence in the top five with aggressive growth in international markets.

“Although the two top players both reported negative growth in the first quarter, Samsung overall appears to be in a stronger position than in recent quarters.”