Infographic: Q1 2024 | Semiconductors, Foundry Share and Smartphone AP Share

Infographic: Top 7 Semiconductor Companies by Revenues, Q1 2024

In Q1 2024, Samsung took the #1 spot in the global semiconductor market, with strong demand from the memory market, especially for DDR5 and storage for generative AI. NVIDIA ranked #2, recording another quarter of revenue growth (19% QoQ), thanks to its dominance in AI, which triggered a sales boom in the data center segment. Intel reported a 14% QoQ revenue decline in Q1 2024 due to soft demand at Intel foundry, Altera and Mobileye. SK hynix and Micron also benefited from the solid memory market to report sequential revenue growth and rank #4 and #7 respectively during the quarter. Qualcomm and Broadcom ranked #5 and #6 respectively in the quarter, both reporting single-digit QoQ revenue declines due to weak performance in their key businesses.

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Infographic: Foundry Companies’ Revenue Share in Q1 2024

Foundry Companies’ Share by Revenue

In Q1 2024, the foundry industry demonstrated mixed results with some notable shifts in market dynamics. TSMC exceeded market expectations, driven by strong AI accelerator demand. The company has raised its forecast for data center AI revenue, projecting it to double YoY in 2024, while expecting a 50% CAGR in AI revenue through 2028. Despite an expanding CoWoS capacity, it remains insufficient to meet the surging AI demand. Samsung Foundry maintained its second position, though its revenue declined due to smartphone seasonality. SMIC secured the third spot for the first time, benefiting from China’s demand recovery. Both UMC and GlobalFoundries saw consumer and smartphone demand bottoming out, with a muted outlook for auto demand in the near term. The industry started seeing signs of demand recovery, with normalized and leaner channel inventory indicating that strong AI demand and a mild recovery in the end demand could drive growth in 2024.

Foundry Industry Share by Technology Node

In Q1 2024, the foundry industry’s revenue share by technology node revealed significant shifts influenced by varying demand across sectors. The 5/4nm nodes dominated with a 26% market share, driven by strong AI demand. In contrast, the 3nm node experienced the most notable drop, falling from third to fifth place with a 6% market share, primarily due to the off-season effects of iPhone production. The 7/6nm, 28/22nm and 16/14/12nm nodes also saw reductions in their proportions at 12%, 8% and 7% respectively, mainly attributed to seasonal downturns in the smartphone and PC markets. These trends underscore the current dynamics in the foundry industry, where advanced nodes benefit from AI-driven growth, while traditional nodes face challenges from cyclical consumer electronics demand.

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Infographic: Global Smartphone AP Market Share in Q1 2024

Global Smartphone AP Market Share by Shipments

MediaTek dominated the smartphone SoC market in Q1 2024 with a share of 40%. Increasing demand for 5G SoCs, along with the successful launch of the company’s third-generation flagship SoC, the Dimensity 9300, drove the growth. In MediaTek’s portfolio, 5G penetration is growing in the low-tier segment, which should lead to market share gains for MediaTek, driven by its relative strength in entry-level 5G chipsets. Qualcomm captured a 23% share in the smartphone AP/SoC market during the quarter, driven by the launch of flagship chipset Snapdragon 8 Gen 3 and design wins for the Snapdragon 8 Gen 2 from Chinese smartphone OEMs. Qualcomm also lost some market share to Samsung, as the new Galaxy S24 series was launched with both Qualcomm and Samsung chipsets.

Global Smartphone AP Market Share by Revenue

Qualcomm dominated the AP market with a 36% share in Q1 2024 in terms of revenue. The premium segment drove Qualcomm’s revenue with the launch of the new Snapdragon 8 Gen 3 chipset, while design wins for the Snapdragon 8 Gen 2 from Chinese smartphone OEMs added to the revenue. Apple was the second largest contributor in the AP market in Q1 2024 in terms of revenue with a 33% share. Apple’s revenue declined QoQ due to seasonality. MediaTek captured the third position with a 17% share in the total global smartphone AP/SoC revenues. MediaTek’s revenue declined QoQ in Q1 2024 due to seasonality and LTE SoC shipments declining significantly in the quarter. However, growing demand for 5G and the successful ramp-up of the company’s third-generation flagship SoC, the Dimensity 9300, contributed to the overall annual growth in shipments.

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