Counterpoint Research: After experiencing a downturn for 2 years, global smartphone sales are expected to increase by 4% in 2024.

According to preliminary data from Counterpoint Research's monthly smartphone sales report, the global smartphone market is expected to rebound in 2024 after two consecutive years of decline. Global smartphone sales are projected to increase by 4% in 2024 compared to the previous year, benefiting from the recovery of consumer confidence following improvements in the macroeconomic environment. Smartphone sales hit a record low in 2023, the lowest in a decade. Tarun Pathak, Research Director at Counterpoint Research, commented on the market dynamics, stating, "2024 is a year of recovery and normalization following a challenging period in 2023. Smartphones remain a necessity in people's daily lives, and with the easing of macroeconomic pressures, the market has shown signs of recovery since the fourth quarter of 2023, with five consecutive quarters of growth. Almost all markets have shown growth, especially in Europe, China, and Latin America." Samsung maintained its market-leading position in 2024, mainly due to strong demand for its S24 and A series product lines. The S24 series, as the first smartphone positioned as an AI device, surpassed its predecessors and was particularly well received in Western Europe and the United States. Apple ranked second with an 18% market share. The reception of Apple's iPhone 16 series was mixed, partly due to availability issues with Apple Intelligence at launch. However, Apple's growth momentum remains strong in non-core markets such as Latin America, Africa, and other Asia-Pacific regions. In 2024, GenAI technology entered the smartphone market for the first time, with the potential for revolutionary impact. Although smartphones supporting GenAI technology are currently limited to the high-end market, it is expected that GenAI will become a standard feature in mid-range devices as the technology develops. By 2028, it is expected that 90% of smartphones priced over $250 will have GenAI capabilities. While smartphone sales may not fully recover to pre-pandemic levels, the trend towards higher-end devices has led to a continuous increase in average selling prices, driving overall market revenue growth. In 2024, sales of ultra-premium smartphones priced over $1000 saw the fastest growth, indicating that consumers are willing to invest more in their next device. Device subsidies in developed markets and the popularity of low-cost installment financing plans in emerging markets have supported this trend. It is projected that smartphone revenue will continue to outpace sales growth, with revenue expected to increase by 8% year-on-year in 2025, while sales will grow by 4%.