Did you know After Two Years of Decline, Smartphone Market Recovers with Strong Growth, AI and Premium Shifts

 

According to Counterpoint Research’s Market Pulse, the global smartphone market has seen some growth in 2024 after being in constant decline for the past two years. In 2024, the global smartphone sales grew 4% YoY which is good, considering how the global smartphone sales in 2023 was the lowest in decade. The research director at Counterpoint Research said that 2024 was a normal year after seeing difficult times in 2023 for the global smartphone market. Smartphones have become essential products for people and as economic conditions have become a little better for some people, the global smartphone market has seen some recovery especially in China, Europe and Latin America.

In 2024, Samsung was the top brand in the global smartphone market because of its A-series and S24 series. The S24 series outperformed other models because of its AI capabilities and did well in the USA and Europe. Apple was the second top brand, with 18% share in the global smartphone market. There was no Apple Intelligence at the time of iPhone 16’s launch so it was not that well received. But Apple saw good growth in Africa, Latin America and Asia-Pacific markets.

The fastest smartphone to grow among the top five in the global market was Xiaomi in 2024. Xiaomi was the fourth top smartphone brand and it gained some momentum after seeing some YoY decline. Another top five brand was Vivo with good performances in China and India. The fastest growing OEMs among the top ten brands were HONOR, Huawei and Motorola.

Many smartphones also started integrating GenAI in 2024, but they are only limited to the premium segment right now. GenAI is soon going to be available in mid-range smartphones too, and the smartphones with price of more than $250 too. Smartphone volumes aren't going to be the same as they were before covid, but as many brands are introducing premium segments, the average selling prices will continue to rise. Consumers showed a preference for ultra-premium smartphones (above $1000) which contributed to the growth of the global smartphone market. It is expected that the global smartphone market will grow 8% YoY in 2025.