After two consecutive years of decline, the worldwide smartphone market is lastly recovering. All through 2024, smartphone OEMs worldwide recorded 4% development year-over-year. 2023 was the yr with the bottom demand in a decade, so it was about time to see indicators of restoration.
Analysts at Counterpoint say the softening financial stress worldwide and the introduction of AI-powered options are the principle drivers for the 2024 development. Nearly all markets recorded a optimistic development, with Europe, China and Latin America main the pack.
Samsung continues to steer with 19% market share because of notably robust demand for the present Galaxy S24 sequence and a few A sequence fashions. Western Europe and the US appear to favor Samsung probably the most.
Apple takes the second spot however recorded a modest 2% decline in total gross sales all through 2024. That is as a result of the iPhone 16 sequence did not promote in addition to anticipated. Alternatively, shoppers have a robust choice for the premium 16 Professional and 16 Professional Max fashions, which permit the corporate to extend income regardless of declining gross sales.
This aligns with a broader market development as shoppers proceed to hunt extra premium options. The common promoting costs proceed to develop, which suggests extra income for the producers. In truth, the above $1,000 bracket grew the quickest final yr.
Again to the smartphone makers, we see robust development from Xiaomi, with a 12% enhance in gross sales and nonetheless occupying the third spot within the rating. Vivo recorded 9% development, whereas Oppo noticed a 8% decline total, but it surely received renewed momentum towards the top of 2024.
Regardless that stats are optimistic, analysts are skeptical of a full market restoration in 2025, that means they do not count on pre-pandemic gross sales simply but.
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