The global smartphone market is showing signs of recovery in 2024 after two consecutive years of decline. According to Counterpoint’s latest report, smartphone sales increased by 4% year-over-year, rebounding from the lowest sales levels recorded in a decade during 2023.
This positive growth marks a turning point for the industry, driven by strong demand for flagship devices and new innovations. Samsung, Apple, and Xiaomi retained their positions as the top three brands globally, with Xiaomi recording the fastest growth among the leading companies.
Key Brand Performances in 2024:
• Samsung: Samsung remains the market leader in 2024, thanks to the success of its Galaxy S24 series and mid-range A-series devices. The S24 series, positioned as the first AI-driven smartphone lineup, has received strong consumer demand, particularly in Western Europe and the United States.
• Apple: Apple secures the second spot with an 18% market share. While the iPhone 16 series received mixed reviews, Apple saw significant growth in non-core markets, including Latin America, Africa, and the Asia-Pacific region.
• Xiaomi: Ranking third, Xiaomi experienced the fastest growth among the top five brands. This growth is attributed to its streamlined product lineup, focus on high-end devices, and aggressive market expansion strategies.
• OPPO: Despite a slight decline in overall sales, OPPO maintained its fourth position. Its market performance rebounded towards the end of the year, signaling a recovery.
• vivo: vivo holds the fifth spot, driven by its strong presence in India and China, where it ended the year as the leading brand in these regions.
Emerging Competitors:
While the top five brands retained their rankings from 2023, emerging players like Huawei, Honor, and Motorola are rapidly gaining ground. These brands are becoming the fastest-growing competitors among the top ten, signaling a shift in the competitive landscape.
Generative AI: The New Frontier in Smartphones
2024 also marks the debut of generative AI technology in smartphones, positioning it as a potential game-changer. While generative AI features are currently limited to high-end models, the technology is expected to trickle down to mid-range devices. By 2028, it is estimated that 90% of smartphones priced above $250 will support generative AI capabilities.
This innovation could revolutionize user experiences, offering advanced functionalities such as real-time content generation, personalized recommendations, and smarter AI assistants. Brands are leveraging these features to differentiate their offerings and capture a larger market share.
Conclusion
The global smartphone market’s recovery in 2024 is a promising sign for the industry, driven by technological advancements and strategic market expansion by leading brands. With innovations like generative AI on the horizon, the industry is poised for further transformation in the coming years.
According to industry insiders, OPPO is preparing to launch its first “Ultra” flagship of the year, the OPPO Find X8 Ultra, following the Lunar New Year. Alongside this model, the brand is reportedly introducing a compact, flat-screen flagship—previously rumored as the Find X8 mini but now confirmed under a new moniker: OPPO Find X8 Next. Recent leaks from trusted …
Experience the seamless blend of design, performance, and functionality with the OPPO Find X8 Pro. In this review, we delve into the pros and cons of this flagship smartphone, offering an honest user experience. Elegant Design and Ergonomic Build The OPPO Find X8 Pro boasts a refined design that exudes quality. The phone’s body, measuring …
OPPO’s product manager for the Find series, Zhou Yibao, has confirmed that the highly anticipated Find N5 foldable smartphone will be officially announced next week. Zhou shared this update on Weibo while responding to multiple queries from users about the Find N5, hinting that the upcoming device will be “stunning.” Ultra-Slim Design with Titanium Build …
China’s smartphone market is one of the largest and most competitive in the world, with brands like Xiaomi, OPPO, Vivo, Huawei, and Honor gaining global recognition. For Western customers, understanding the relationships between these brands and their respective sub-brands can provide valuable insight into their strategies, product lines, and operating systems (OS). 1. Xiaomi and …
Counterpoint: Global Smartphone Market Rebounds in 2024, Samsung, Apple, and Xiaomi Lead the Market
The global smartphone market is showing signs of recovery in 2024 after two consecutive years of decline. According to Counterpoint’s latest report, smartphone sales increased by 4% year-over-year, rebounding from the lowest sales levels recorded in a decade during 2023.
This positive growth marks a turning point for the industry, driven by strong demand for flagship devices and new innovations. Samsung, Apple, and Xiaomi retained their positions as the top three brands globally, with Xiaomi recording the fastest growth among the leading companies.
Key Brand Performances in 2024:
• Samsung: Samsung remains the market leader in 2024, thanks to the success of its Galaxy S24 series and mid-range A-series devices. The S24 series, positioned as the first AI-driven smartphone lineup, has received strong consumer demand, particularly in Western Europe and the United States.
• Apple: Apple secures the second spot with an 18% market share. While the iPhone 16 series received mixed reviews, Apple saw significant growth in non-core markets, including Latin America, Africa, and the Asia-Pacific region.
• Xiaomi: Ranking third, Xiaomi experienced the fastest growth among the top five brands. This growth is attributed to its streamlined product lineup, focus on high-end devices, and aggressive market expansion strategies.
• OPPO: Despite a slight decline in overall sales, OPPO maintained its fourth position. Its market performance rebounded towards the end of the year, signaling a recovery.
• vivo: vivo holds the fifth spot, driven by its strong presence in India and China, where it ended the year as the leading brand in these regions.
Emerging Competitors:
While the top five brands retained their rankings from 2023, emerging players like Huawei, Honor, and Motorola are rapidly gaining ground. These brands are becoming the fastest-growing competitors among the top ten, signaling a shift in the competitive landscape.
Generative AI: The New Frontier in Smartphones
2024 also marks the debut of generative AI technology in smartphones, positioning it as a potential game-changer. While generative AI features are currently limited to high-end models, the technology is expected to trickle down to mid-range devices. By 2028, it is estimated that 90% of smartphones priced above $250 will support generative AI capabilities.
This innovation could revolutionize user experiences, offering advanced functionalities such as real-time content generation, personalized recommendations, and smarter AI assistants. Brands are leveraging these features to differentiate their offerings and capture a larger market share.
Conclusion
The global smartphone market’s recovery in 2024 is a promising sign for the industry, driven by technological advancements and strategic market expansion by leading brands. With innovations like generative AI on the horizon, the industry is poised for further transformation in the coming years.
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