A. SREENIVASA REDDY (ABU DHABI)
Global smartphone shipments reached 1.24 billion units in 2024, representing a 6.4% annual growth compared to 1.16 billion units in 2023, according to the International Data Corporation (IDC).
In the fourth quarter of 2024, 331.7 million units were shipped, reflecting a 2.4% year-over-year (YoY) increase. This marked the sixth consecutive quarter of shipment growth after two challenging years of decline.The growth is driven by vendors' strategic adjustments and growing consumer demand.
In 2024, Apple retained its position as the largest global smartphone vendor with 232.1 million units shipped, capturing an 18.7% market share. Samsung followed in second place with 223.4 million units and an 18.0% share, as both companies witnessed YoY declines due to aggressive competition from Chinese vendors.
Xiaomi strengthened its position as the third-largest player, shipping 168.5 million units and securing a 13.6% market share, achieving the highest YoY growth rate among the top five brands. Transsion and OPPO tied for the fourth position, with shipments of 106.9 million units (8.6% share) and 104.8 million units (8.5% share), respectively. Collectively, the "Others" category accounted for 402.9 million units, representing 32.5% of the total market.
"The strong growth witnessed in 2024 proves the resilience of the smartphone market despite lingering macroeconomic challenges, forex concerns in emerging markets, ongoing inflation, and lukewarm demand," said Nabila Popal, senior research director for Worldwide Client Devices, IDC.
"Vendors successfully adjusted their strategies by focusing on promotions, launching devices in multiple price segments, and offering interest-free financing plans and aggressive trade-ins. This approach fueled premiumisation while also boosting low-end device adoption, particularly in China and emerging markets,” he Popal added.
“This past quarter was particularly remarkable for Chinese smartphone vendors—including Xiaomi, Oppo, Vivo, Honor, Huawei, Lenovo, Realme, Transsion, TCL, and ZTE. They achieved a historic milestone, shipping the highest combined volume ever in a single quarter, representing 56% of global smartphone shipments in Q4,” said Francisco Jeronimo, vice president for EMEA Client Devices, IDC.
While the broader market grew, the demand for foldable phones has declined, despite intensified promotions and marketing efforts. "Vendors have started shifting R&D away from foldables as consumer interest remains flat," said Anthony Scarsella, research director for Client Devices, IDC. "Instead, numerous vendors are prioritising advancements in AI, which is increasingly featured on high-end devices, particularly in the premium market segment, thanks to GenAI."