Canalys: Global smartphone shipments are expected to exceed 1.2 billion units in 2024, a year-on-year increase of 5%

The latest report from market research firm Canalys predicts that global smartphone shipments will reach 1.2 billion units in 2024, a year-on-year increase of 5% . Despite challenges such as rising costs, inventory turnover and business environment, market sentiment is still improving.

The latest report from market research firm Canalys predicts that global smartphone shipments will reach 1.2 billion units in 2024, a year-on-year increase of 5% . Despite challenges such as rising costs, inventory turnover and business environment, market sentiment is still improving.

In the long run, the market's annual growth rate will gradually enter a plateau period after experiencing this year's rebound, and the annual compound growth rate is expected to be 2% from 2024 to 2028.

Demand in the high-end mobile phone market remained resilient, with the top five manufacturers in the world in terms of shipments of mobile phones priced above USD 600 all achieving year-on-year growth in the second quarter.

Apple ranks first with a market share of 62%, Samsung ranks second with a market share of 22%, Huawei ranks third with a market share of 9%, Xiaomi and vivo rank fourth and fifth with 71% and strong growth respectively .

In terms of AI mobile phones, the penetration rate is expected to reach 17% in 2024 and increase to 30% in 2025. Apple leads with a market share of 51%.

The foldable phone market is expected to ship approximately 18 million units in 2024, a year-on-year increase of 3%. From 2024 to 2028, it will grow at a compound annual growth rate of 30% to 51 million units.

The market penetration rate of 5G smartphones is expected to reach 67% in 2024 and rise to 87% by 2028.

Zikuai Technology