The global smartphone market in 2024 saw a resurgence after two consecutive years of annual declines, according to a report by Counterpoint Research, a market research firm. The smartphone shipments soared worldwide by four percent on a year-over-year basis in the year.
Samsung tops the chart
Samsung retained the top spot with a 19 percent market share, driven by strong demand for its Galaxy S24 series and A-series smartphones, according to the market research firm. The Galaxy S24 series models, which were the company’s first AI smartphones, left behind older models and were in high demand especially in Western Europe and the USA. This achievement comes despite a slight drop from a 20 percent market share in 2023.
Apple was close behind the South Korean company in second place with an 18 percent market share. The iPhone 16 series received a lukewarm response initially, which was partially “due to a lack of availability of Apple Intelligence at launch.” However, the American company continued to grow well in its “non-core markets like Latin America, Africa and Asia-Pacific-Others.” The demand for Apple’s Pro and Pro Max models is said to be growing in markets like China.
Taking the third spot was Xiaomi, which was the fastest-growing brand among the top five OEMs in 2024 at the rate of 12%. It held 14 percent of global smartphone market share.
Vivo and Oppo held eight percent market share each to complete the top five.
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The resurgence in the smartphone market has been attributed to macroeconomic recovery by the research firm, which it said improved sentiment of the buyers.
The report also emphasised on the growing demand of AI in smartphones so much so that devices equipped with generative AI is speculated to expand beyond the premium segment to mid-range devices. To put it into perspective, by 2028, the share of AI smartphones priced over $250 is expected to grow to 90%, according to Counterpoint Research.
