In 2024, the global smartphone market experienced a notable resurgence, reversing a two-year decline as shipments increased by 7%, totaling 1.22 billion units for the year, according to Canalys.
Apple maintained its leading position in the market for the second consecutive year. Despite a 1% decrease in iPhone shipments, totaling 225.9 million units, the company saw growth in emerging markets and stable performance in North America and Europe, which helped offset challenges in Mainland China.
Samsung secured the second spot, with a market share of 16%, as per the report. The company shipped 60 million units in Q1 2024, driven by updates to its A-series and early premium offerings. Xiaomi emerged as a significant player, holding a 14% market share. The company achieved a 12% increase in unit sales, reflecting its growing influence in the global market.
The iPhone 15 was the best-selling smartphone globally in 2024, as the smartphone dominated the third quarter of the year.
The resurgence in the smartphone market was driven by aggressive launches from brands offering refreshed portfolios with strong value propositions. This encouraged upgrades amid a favorable refresh cycle and robust consumer sentiment. The introduction of AI-focused devices became a prominent trend, with AI advancements expected to dominate high-end smartphones by 2028.
In emerging markets, particularly India and Southeast Asia, Apple experienced significant growth. Local production in India reduced costs and expanded market share, while active marketing strategies in the Asia-Pacific region further boosted sales.
As the market recovers, competition is expected to intensify. Samsung’s upcoming Galaxy S25 series is anticipated to challenge Apple’s dominance. Additionally, Chinese manufacturers like Xiaomi and Vivo are rapidly increasing their market share, focusing on devices with strong value propositions.
In summary, 2024 marked a year of recovery and innovation in the global smartphone market, with major players adapting to shifting consumer preferences and regional dynamics.
