TechInsights: The global smartphone market is expected to return to low single-digit growth in 2024

According to recent news, the performance of smartphones has basically reached its ceiling. The flagships of various brands are almost on par in terms of running scores, and the same is true for imaging systems, fast charging, and screens.

What will be the development trend of smartphones in 2024? Recently, the research institute TechInsights released the major trends of smartphones in 2024, predicting the development and functional configuration of smartphones this year.

1. Growth in 2024:

According to TechInsights Wireless Smartphone Strategy Channel data, the global smartphone market will return to low single-digit growth in 2024.

The relative easing of the global macroeconomic situation will also drive the growth of the smartphone industry - this growth will be driven by emerging markets that have not yet been saturated.

2. Huawei may be a surprise in 2024:

Now that Huawei has been able to successfully launch 5G chipsets in China, Huawei may become a big surprise not only in the domestic market but also in overseas markets in 2024.

According to TechInsights' forecast for smartphone shipments in various regions around the world, Huawei is expected to achieve strong double-digit growth this year.

3. Generative Artificial Intelligence:

TechInsights predicts that generative AI will take center stage in smartphones by 2024, enabling smartphones to perform millions of AI processing operations at the edge without even having to connect to the internet.

TechInsights gives examples such as text to image generation, sound generation, video generation, etc.

In terms of processors, Qualcomm Snapdragon 8Gen 3, MediaTek Dimensity 9300, Google Tensor G, etc. all support AI functions.

As a result, we will see penetration of GenAI phones grow significantly from a small base in 2023 to 2024.

4. Brighter screen:

In 2023, we saw smartphone displays become brighter, with nit values ​​continuing to increase and expected to grow further by 2024.

The peak brightness of the OnePlus Open reaches 2800 nits, and we expect this brightness parameter to reach 4500 nits or higher in 2024.

5. More RAM:

TechInsights predicts that smartphone RAM (running memory) will exceed 20GB in 2024.

It is understood that in the past two years, many mobile phone manufacturers have joined the war for mobile phone memory, and 16GB has basically become the standard configuration for flagship phones.

The current mobile phone RAM ceiling is 18GB, and the models using it include OnePlus Ace 2 Genshin Impact Custom Edition, ZTE Axon 40 Ultra Space Edition, Red Magic 7S Pro Deuterium Front Transparent Shadow Edition, etc.

6. People-oriented/eye health:

Honor has done a good job in eye protection in 2023 with its Magic series and Honor 90, launching models with zero-risk dimming eye protection screen technology.

It also has the industry's highest and safest PWM dimming technology with a frequency of 3840Hz.

TechInsights believes that since smartphones are becoming more people-centric and health is a major topic of concern in today's era, we expect more vendors to adopt a similar approach.

7. Satellite connection:

Since Apple introduced satellite connectivity, Huawei has also done it, and more smartphone manufacturers are expected to offer satellite connectivity in 2024.

However, satellite connectivity has its own challenges, making it difficult to expand in other countries and comes with significant additional costs.

For example, Apple is currently available in 16 countries and is expected to expand to more countries in the coming years.

8. Curved screen smartphones will decline:

In 2023, curved screens became high-end in the mid-to-high price range, but TechInsights predicts that by 2024, curved screens will no longer be popular due to issues such as high maintenance and repair costs.

The Samsung Galaxy S24 Ultra is expected to adopt a straight screen design, which indicates that high-end models are abandoning curved screens.

Will consumers in the mid- to high-end price range be willing to pay extra to maintain a curved screen? It seems unlikely.

9. Apple has always been a hot topic for most smartphone enthusiasts, and it is expected that Apple will not have major smartphone innovations in 2024.

It is reported that the topic of Apple's market value evaporating 760 billion yuan overnight has caused heated discussion before, because the investment bank Barclays adjusted Apple's stock rating from "hold" to "sell" and lowered the target share price by US$1 to US$160, which means that Apple's stock price will fall by 17% in the next year.

On the same day, Apple’s stock price fell 3.58% to close at $185.64 per share, and its market value evaporated by $107.1 billion (about RMB 766 billion) overnight.

The report wrote that the current "sluggish" sales of the iPhone 15, especially in China, suggests that sales of the iPhone 16 will be equally weak.

Simply put, the investment bank believes that Apple's prospects are not good, sales of the iPhone 15 series are sluggish, and predicts that the iPhone 16 series may not have major changes, without more attractive features or upgrades.

Zikuai Technology