Canalys: Global smartphone market grows 3% in the fourth quarter to reach 330 million units.

Canalys stated in its report that in the fourth quarter of 2024, the global smartphone market grew by 3% to reach 330 million units. The market achieved positive growth for five consecutive quarters, but the growth rate has slowed significantly. Apple Inc. (AAPL.US) showed strength in the traditional new phone release season, capturing the top spot with a 23% market share. Samsung came in second with a 16% market share, which had declined. Xiaomi (01810) held steady in third place with a 13% market share, benefiting from increased influence in the local market and global efforts, and was the only one of the top three manufacturers to achieve year-on-year growth. Transsion and vivo ranked fourth and fifth, benefiting from the recovery of emerging markets in the Asia-Pacific region. In 2024, the global smartphone market shipped 1.22 billion units, representing a 7% year-on-year growth. Apple Inc. surpassed Samsung for the second consecutive year to become the global leader. Canalys analyst Le Xuan Chiew commented, "In 2024, Apple Inc.'s growth in emerging markets such as India and Southeast Asia helped solidify its global position. The company expanded its channel coverage and influence in the Asia-Pacific market, captured growth opportunities through active marketing and branding activities, but faced challenges in competition and lengthening replacement cycles, Apple Inc. did not show strong recovery in some developed markets. It is expected that in 2025, Apple Inc. will achieve growth momentum through product line refreshes, hardware upgrades, and a broader implementation of 'Apple Intelligence'." Canalys senior analyst Toby Zhu added, "The prosperity of mass-market products was a key factor driving the global smartphone market in 2024. Despite facing challenges of rising supply chain costs, brands such as Xiaomi, Transsion, and vivo recorded double-digit growth in 2024 due to extensive channel coverage, strong product competitiveness, and effective inventory demand management. Meanwhile, mid-range models faced demand challenges as consumers in emerging markets preferred cost-effective products while mature markets experienced an increase in average price structure." Toby Zhu continued, "It is unlikely that 2025 will replicate the high growth rate of 2024, as much of the growth in the past year stemmed from manufacturers and channels replenishing inventory levels and partly from the repair of certain market macro factors. Demand fluctuations and macroeconomic uncertainties remain the primary challenges. Manufacturers will focus more on high-end products to enhance competitiveness through AI functionality implementation, product innovation, and enhanced marketing. Additionally, manufacturers will implement more cautious inventory management to address demand declines resulting from political conflicts and macroeconomic fluctuations. Regional manufacturers are expanding channel coverage and product structures, activating local market opportunities, and the concentration of top manufacturers may once again experience a decline."