After two years of decline, the global smartphone market rebounded in 2024 by the whopping 6.4%. The most notable thing was how Samsung continued to lead as the top smartphone maker with 19% of the market share, while Apple has done almost quite right; catching up in sales, it has come to be briefly considered by some as the number-one brand. Xiaomi, in that time, became effective at the most handsome growth leader. The company focused on quality high-end smartphones while expanding its territory to emerging markets through intensive efforts.
The fourth quarter turned out to be remarkable for Apple, taking very significant 23% market share during its peak launch season. Their performance has proved very much significant in emerging markets such as India and Southeast Asia. Demand for Apple products soared in these markets. In contrast, the sales star of Samsung flows right through the year, with products such as the Galaxy S24 and A-series becoming important to the company’s success.
The years 2024 witnessed the ultramodern trend of ultra premium smartphones, which knocked the market with prices hitting above $ 1000. This trend was indicative of a significant market trend towards highly expensive-type devices. Models that begin including GenAI features in their operation also started emerging in the market, but found very-high-end price tags which have not yet molded the models into anything like the mainstream.
Passage of time bodes gloom for the future of the mobile phone market. Supply chain issues and prolonged replacement cycles can be negative influences on sales. Brands are investing in artificial intelligence innovations together with developing some premium products in order to remain competitive. This likely would address changes in consumer preferences in a changing market.