According to preliminary data from IDC, global smartphone shipments increased 2.4% year-on-year to 331.7 million units in the fourth quarter of 2024. This marked the sixth consecutive quarter of growth in shipments, and a full-year increase of 6.4% to 1.24 billion units, marking a strong recovery after two challenging years of decline. The market is expected to continue to grow in 2025, albeit at a slower pace, as refresh cycles continue to grow and pent-up demand is met. "Strong growth in 2024 demonstrates the resilience of the smartphone market despite lingering macro challenges, foreign exchange concerns in emerging markets, persistent inflation, and lukewarm demand," said Nabila Popal, senior research director for Worldwide Client Devices at IDC. "Vendors have successfully adjusted their strategies to drive growth by focusing on promotions, launching devices at multiple price points, interest-free financing programs, and aggressive trade-in programs, driving both premium and low-end devices - particularly in China and emerging markets. While we are optimistic about continued growth in 2025, the threat of new tariffs and higher tariffs from the new U.S. administration has increased uncertainty across the industry, prompting some players to seek precautionary measures to reduce risk; however, the impact has been minimal so far." While Apple and Samsung retained their top two positions for both the fourth quarter and the full year, both companies saw year-over-year declines and their share prices shrank due to super-aggressive growth by Chinese vendors this year. Chinese vendors have driven the overall market by focusing on low-end devices, rapid expansion and growth in China. In addition to Apple and Samsung, Xiaomi ranked third for the quarter and the full year, with the highest year-over-year growth rate among the top 5 players. Transsion ranked fourth, but due to increased competition among the three companies, Transsion tied with vivo for the quarter and tied with OPPO for the full year. Francisco Jeronimo, Vice President, EMEA Client Devices at IDC, said: “Last quarter was particularly notable for the largest Chinese smartphone vendors: Xiaomi, Oppo, Vivo, Honor, Huawei, Lenovo, realme, Transsion, TCL, and ZTE. They achieved a historic milestone as their combined shipments in a quarter reached their highest level ever, accounting for 56% of global smartphone shipments in the fourth quarter. While the core markets for these brands remain China and Asia, they are rapidly expanding their footprint in Europe and Africa, driven by strong performance in the mid- and low-end devices. Notably, Huawei stands out with the majority of its shipments coming from the high-end market, highlighting its unique market positioning in China.” |
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