After two challenging years of decline, the global smartphone market experienced a long-awaited recovery in 2024, growing by 4% year-on-year.
This rebound, captured in Counterpoint Research’s Market Pulse 2024 report, underscores a pivotal moment for the industry as it adapts to shifting consumer trends and evolving technologies.
Samsung, the South Korean electronics giant, maintained its position as the global leader in smartphone shipments. Despite a slight dip in its global market share from 20% in 2023 to 19% in 2024, the company continued to dominate, driven by strong demand for its flagship Galaxy S24 series and mid-range A-series devices. These product lines resonated with consumers across various price segments, helping the tech giant weather market fluctuations and maintain its dominance.
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This approach, coupled with a robust supply chain and innovative marketing campaigns, enabled Samsung to maintain its leadership despite growing competition from Chinese brands.
Apple secured the second spot in global smartphone market share with an 18% share, a slight decline from 19% the previous year. The company’s flagship iPhone 16 series faced a mixed reception, attributed in part to the delayed availability of its much-anticipated Apple Intelligence features at launch.
While the iPhone 16 series underperformed in some markets, Apple demonstrated significant growth in its non-core regions, which includes Latin America, Africa, and the Asia-Pacific. In these regions, consumers increasingly turned to Apple’s devices, with particular interest in the ultra-high-end Pro models. Counterpoint Research’s senior analyst Ivan Lam noted that in markets like China, the sell-through share of Pro series devices expanded significantly, offsetting some of the declines in overall iPhone sales.
China, the world’s largest smartphone market, posed significant challenges for Apple in 2024. The delayed rollout of AI-powered features in the region, hindered the adoption of the iPhone 16 series. Features like AI writing assistance and image generation, which were key selling points for the latest iPhones, were unavailable to Chinese consumers at launch. Meanwhile, domestic Chinese smartphone producers ramped up their development of in-house AI tools, enhancing their competitive edge against global rivals.
Apple’s integration of OpenAI’s ChatGPT into its devices, announced in late 2024, was a strategic move to revitalize interest in its products. Investors hope that these updates will drive renewed interest and boost sales, particularly in markets where Apple has seen its share decline. While Apple faced challenges in 2024, its focus on AI integration reflects a long-term vision for technological innovation. The rollout of AI-powered tools aligns with broader industry trends and positions Apple to compete effectively in a market increasingly driven by artificial intelligence.
Notably, Chinese manufacturers, including Huawei, Honor, and Lenovo Group’s Motorola, recorded significant growth, leveraging advanced AI capabilities to strengthen their market positions. These companies have been at the forefront of integrating AI into smartphones, offering features that allow devices to perform tasks on behalf of users. Their advancements further intensified competition in the global market.
The recovery in the global smartphone market was underpinned by improving macroeconomic conditions, which boosted consumer sentiment and drove demand. By Q4 2023, the market had already begun showing signs of recovery, with growth continuing for five consecutive quarters into 2024. Europe, China, and Latin America emerged as key growth regions during this period, reflecting broader shifts in consumer preferences and spending habits.
The recovery in the global smartphone market, coupled with significant technological advancements, sets the stage for continued growth and innovation in the coming years.
As market leaders like Samsung and Apple refine their strategies and competitors like Huawei and Honor push the boundaries of AI integration, the industry is poised for exciting developments in 2025 and beyond.