According to the latest research from Canalys, the global smartphone market grew 7% in 2024 to 1.22 billion units, rebounding after two consecutive years of decline. Apple defended its top spot in the vendor rankings for the second year, thanks to growth in emerging markets and solid performance in North America and Europe, which helped offset challenges it faced in mainland China. In 2024, iPhone shipments fell 1% to 225.9 million units. Samsung followed closely behind with shipments also falling 1% to 222.9 million units as it continued to focus on profitability. Xiaomi maintained its third position as the largest contributor to the industry's volume growth in 2024. TRANSSION's shipments grew strongly by 15% to 168.6 million units, driven by strong growth momentum in mainland China and continued strategic expansion into emerging markets. Transsion occupied the fourth position for the first time, followed by OPPO (including OnePlus), with growth of 15% and 3% to 106.7 million units and 103.6 million units, respectively. Canalys analyst Runar Bjørhovde said: "2024 is the comeback year for the smartphone industry, with the highest annual global shipments in the post-pandemic period. Mass-market demand has been surging, driven by the refresh cycle of smartphones sold during the pandemic and channel replenishment. Some vendors have taken advantage of this trend by targeting open market channels and leading with strong value-for-money focused products. The focus on scale expansion carries the risk of lower margins to keep prices competitive. To address this and manage profitability, vendors have reduced fixed costs and optimized their resource planning. In addition to strong growth in emerging markets, mature economies have also begun to recover, with growth of 4% in Mainland China, 1% in North America and 3% in Europe. Demand in these regions is driven by vendor promotional activities such as discounts, trade-ins and device bundling." Canalys Senior Analyst Sanyam Chaurasia said: "Apple and Samsung remained resilient amid strong flagship demand, reflecting the market's continued premiumization trend. In the premium segment, consumers are increasingly choosing premium versions of their flagship series, thanks to vendors launching more clearly differentiated models in their flagship series in an already price-inelastic market. In the case of Apple, shipments of 16 Pro and Pro Max in 2024 are 11% higher than 15 Pro and Pro Max in 2023, reaching more than 55 million units. The performance of Pro models in the 16 series was a key driver of iPhone 16 surpassing iPhone 15. Samsung posted its strongest S series sales since 2019, with a stronger preference for Ultra than ever before. Samsung Electronics hopes to continue S series growth with Galaxy S25 by continuing to focus on AI experiences, including complementary Gemini Advanced subscriptions. Upgrading current mid-range A series users to standard and plus versions will be a key factor in achieving this goal." |
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