Global Smartphone Sales Rebound in 2024, Led by Chinese Manufacturers
After two years of decline, worldwide smartphone sales have shown a significant recovery in 2024, according to reports from leading market research firms Counterpoint, Canalys, and IDC. The growth is primarily attributed to the strong performance of Chinese manufacturers like Xiaomi and Vivo, while industry giants Apple and Samsung maintain their positions at the top of the market.
Counterpoint Research reports a 4% growth in phone sales for 2024, while IDC and Canalys indicate even stronger increases of 6-7% in global shipments. This positive trend follows a challenging 2023, which saw smartphone sales hit their lowest point in a decade. Analysts expect this growth trajectory to continue into 2025.
There is some discrepancy among the research firms regarding market leadership. Counterpoint identifies Samsung as the top manufacturer, while IDC and Canalys place Apple in the lead. However, all reports agree on the rapid ascent of Xiaomi, which emerged as the fastest-growing major manufacturer with a 12% increase in unit sales. Xiaomi now holds a 14% market share, closing the gap with Apple’s 18%.
Other key players in the market include Oppo (which includes OnePlus), Vivo, and the Transsion group (comprising Tecno and Infinix). These companies have seen strong sales in Asia and notable growth in Europe, Africa, and Latin America, contributing to their improved market positions.
The introduction of AI-focused smartphones has played a significant role in driving market growth. AI has replaced foldable screens as the leading trend in smartphone innovation, with decreased demand for foldable phones despite heavy marketing efforts. Industry experts predict that by 2028, 90% of smartphones priced over $250 will feature generative AI capabilities.
As the smartphone market continues to evolve, manufacturers are focusing on AI integration and other innovative features to maintain growth and attract consumers in an increasingly competitive landscape.