The global smartphone market experienced a 4% year-on-year growth in 2024, marking a recovery after two consecutive years of decline. According to Counterpoint Research, Samsung led the market in terms of smartphone shipments, driven by robust demand for its Galaxy S24 and A-series devices.
Key Highlights:
1. Samsung’s Market Leadership: Samsung retained its position as the global market leader, with a strong performance in Western Europe and the US.
2. Apple’s Mixed Performance: Apple followed in second place, with an 18% market share, but received mixed feedback for its iPhone 16 series.
3. Xiaomi’s Rapid Growth: Xiaomi posted the fastest growth among the top five brands, leveraging a realigned portfolio and aggressive premium-focused expansion strategies.
4. Rise of GenAI and Premiumization: The introduction of Generative AI (GenAI) capabilities in smartphones marked a technological milestone in 2024, with premiumization driving market revenues higher.
5. Outlook for 2025: The global smartphone market is expected to continue growing, with revenue growth projected to outpace volume growth.
Top Smartphone Brands in 2024:
1. Samsung
2. Apple
3. Xiaomi
4. OPPO
5. vivo
Fastest-Growing OEMs:
1. Huawei
2. HONOR
3. Motorola
Source: Nairametrics
