Global Smartphone Market Rebounds with 7% Growth in 2024
After two years of decline, the global smartphone market made a strong comeback in 2024, growing by 7% and reaching 1.22 billion units in sales. According to the latest research from Canalys, this marks a significant rebound for the industry as smartphone vendors strategize for an unpredictable 2025.
Apple Maintains Leadership Despite Challenges
Apple continued to hold its position as the top smartphone vendor for the second consecutive year. The company’s strong performance in North America, Europe, and emerging markets helped it maintain its lead, despite facing difficulties in Mainland China.
However, Apple experienced a slight 1% decline in iPhone shipments, selling 225.9 million units in 2024. The dip in sales was largely due to increased competition from local Chinese brands and shifting consumer preferences.
Samsung Holds Second Place with Profitability Focus
Samsung remained in the second spot, following closely behind Apple. Similar to Apple, Samsung also saw a 1% decline in shipments, totaling 222.9 million units for the year.
Despite the drop in unit sales, Samsung focused on profitability rather than aggressive volume growth. The company prioritized premium and foldable smartphones, appealing to high-end consumers while maintaining steady sales in key markets.
Xiaomi Gains Momentum and Drives Market Growth
Xiaomi emerged as one of the biggest winners in 2024, firmly holding onto its third-place position. The company’s shipments grew by an impressive 15%, reaching 168.6 million units.
This growth was fueled by two key factors:
- Strong sales in Mainland China, where Xiaomi expanded its presence.
- Strategic expansion into emerging markets, helping the company tap into new customer bases.
Xiaomi’s aggressive pricing strategy and feature-packed devices helped it attract consumers who were looking for high-performance smartphones at affordable prices.
TRANSSION Breaks Into the Top Four
For the first time, TRANSSION secured the fourth spot in the global smartphone market rankings. The company’s focus on providing budget-friendly smartphones, particularly in Africa and South Asia, contributed to its rise.
With strong demand in these regions, TRANSSION saw a 15% increase in shipments, reaching 106.7 million units in 2024. The company’s success highlights the growing importance of affordable smartphones in expanding digital connectivity worldwide.
OPPO (Including OnePlus) Rounds Out the Top Five
OPPO, including its sub-brand OnePlus, retained its fifth-place position, recording a 3% growth in smartphone shipments. The company sold 103.6 million units in 2024, driven by steady sales in Asia and Europe.
OPPO’s strategy focused on offering premium features, such as fast charging, high-quality cameras, and sleek designs, at competitive prices. OnePlus, known for its flagship-like experience at a lower cost, also contributed to the company’s global sales.
Looking Ahead: What to Expect in 2025?
As the smartphone market stabilizes after a tough period, vendors are preparing for potential challenges in 2025. Some key factors that could shape the market include:
- Economic Uncertainty: Inflation and fluctuating exchange rates may impact consumer spending.
- Evolving Consumer Preferences: The demand for foldable smartphones, AI-powered devices, and sustainable technology is growing.
- Intensifying Competition: Chinese brands continue to gain ground, challenging established players.
- 5G Expansion: As 5G networks expand globally, smartphone makers must innovate to stay relevant.
With these factors in mind, 2025 will be a critical year for the industry. Companies will need to adapt to changing trends, invest in innovation, and explore new markets to sustain growth.
Conclusion
The global smartphone market experienced a strong recovery in 2024, with a 7% growth rate after two years of decline. While Apple and Samsung saw minor declines in shipments, brands like Xiaomi and TRANSSION played a key role in boosting overall market growth.
As we move into 2025, smartphone vendors must navigate emerging challenges and continue to innovate to maintain momentum. Whether through new technologies, affordability, or premium experiences, the battle for market share will remain fierce in the coming years.
