TL;DR
- Smartphone shipments grew 4% YoY in 2024 after two years of decline, driven by improved macroeconomic conditions and AI integration in premium devices.
- Samsung led with a 19% market share, fueled by high demand for its AI-powered Galaxy S24 series, especially in Europe and the US.
- Apple held 18% market share despite a 2% decline in sales, with strong demand for its premium iPhone 16 Pro models compensating for weaker overall performance.
- Xiaomi grew 12% YoY, securing 14% market share and emerging as the fastest-growing top-five brand, alongside Vivo and Oppo’s moderate performance.
The global smartphone market experienced a 4% year-over-year (YoY) growth in 2024, reversing two years of decline, according to a new report by Counterpoint Research.
This rebound is attributed to improved consumer sentiment amid better macroeconomic conditions, following a decade-low sales slump in 2023.
Samsung Leads with 19% Market Share
Samsung retained its position as the world’s leading smartphone manufacturer, capturing a 19% market share.
This success is largely due to strong demand for its Galaxy S24 series and A-series models, particularly in Western Europe and the United States.
The Galaxy S24 series, marketed as Samsung’s first AI-powered smartphones, outperformed previous models, contributing significantly to the company’s market dominance.
Apple Holds Second Place Amid Mixed Performance
Apple secured an 18% market share, maintaining its second-place position. However, the iPhone 16 series received a mixed response, leading to a 2% decline in overall sales.
The delayed availability of Apple Intelligence features may have contributed to this downturn.
Also Read: Samsung Galaxy Unpacked 2025: Here’s what to expect and how to watch
Despite these challenges, Apple’s premium Pro and Pro Max models gained popularity, especially in China and emerging markets like Latin America and Africa, helping to offset some of the sales decline.
Xiaomi Emerges as Fastest-Growing Brand
Xiaomi achieved a 14% market share, making it the fastest-growing brand among the top five, with a 12% increase in sales.
This growth is attributed to strong performance in China, India, and other emerging markets.
Also Read: Huawei Enjoy 70X announced with satellite connectivity, 6100mAh battery, and more
Vivo and Oppo each secured 8% of the market, with Vivo experiencing a 9% growth, while Oppo faced an 8% decline earlier in the year but regained momentum towards the end of 2024.
AI Integration Drives Market Dynamics
The integration of artificial intelligence (AI) features into smartphones has become a significant market driver.
In 2024, the introduction of generative AI capabilities in premium smartphones contributed to market growth.
Analysts project that by 2028, 90% of smartphones priced above $250 will feature AI capabilities, indicating a shift towards more intelligent and feature-rich devices.
Market Outlook for 2025
Despite the positive growth in 2024, analysts remain cautious about a full market recovery to pre-pandemic levels.
Revenue growth is expected to outpace shipment volumes in 2025, with an anticipated 8% YoY increase in revenues compared to a 4% growth in shipment volumes.
This trend suggests a continued consumer preference for premium devices with advanced features, driving higher average selling prices.
