In the first quarter of this year, the domestic smartphone market's shipment volume was estimated at about 3.8 million units, marking a 1.8% growth compared to the previous year.
The International Data Corporation Korea (IDC Korea), an information and communication technology market analysis and consulting firm, announced this on the 12th, analyzing that the increase in market demand was influenced by the release of flagship new products and the active market entry of mid-to-low-end smartphone manufacturers.
The consumer sentiment index for the first quarter remained below 100, but major manufacturers such as Samsung Electronics and Apple showed growth centered around the premium smartphone market after launching flagship new products.
In addition, mid-to-low-end overseas manufacturers such as Xiaomi and Motorola invigorated the market by expanding their model lineups.
The 5G market share remained at 91.3%, maintaining the level from the previous quarter. The fact that both flagship new smartphones and mid-to-low-end smartphones expanded their lineups centered around 5G models seems to have influenced this.
In terms of price range, the market share of flagship products priced over $800 plummeted compared to the same period last year, recording 59.5%. High exchange rates and the freeze on new product launch prices by some manufacturers at the previous year's levels also contributed to including flagship products in the below $800 category.
The shipment volume of the domestic foldable market recorded 50,000 units, a decrease of 57.5% compared to the previous quarter. It is analyzed that the drastic reduction in shipment volume is due to inventory adjustments ahead of the launch of new foldable products in the second half of the year.
Kang Ji-hae, a researcher at IDC Korea, noted that 'the advanced artificial intelligence (AI) features of major manufacturers are driving purchase demand, and competition for market share and demand among related model portfolios is expected to intensify.'