In Q4 2024, global smartphone shipments increased by 3% year-on-year
In the fourth quarter of 2024, global smartphone shipments increased by 2.6% year-on-year, reaching 325.3 million units, marking five consecutive quarters of recovery. Global smartphone wholesale revenue was $120 billion, a year-on-year increase of 0.8%. The average selling price (ASP) of smartphones decreased by 1.7% year-on-year, standing at $369. Annual shipments grew by 5.7%, and revenue increased by 2.6%. The market recovery was mainly driven by emerging markets, but the Central and Eastern European region experienced a decline due to geopolitical tensions. Apple led with a 23% market share, followed by Samsung at 16%
Author: Sui Qian
Image source | pexels
In the fourth quarter of 2024, global smartphone shipments increased by 2.6% year-on-year, reaching 325.3 million, marking five consecutive quarters of recovery. However, the growth rate has slowed to single digits for two consecutive quarters. Global smartphone wholesale revenue reached $120 billion, a year-on-year increase of 0.8%. The average selling price (ASP) of smartphones decreased by 1.7% year-on-year, standing at $369. For the entire year of 2024, global smartphone shipments are expected to grow by 5.7% year-on-year, reaching 1.2178 billion units, while smartphone wholesale revenue is projected to increase by 2.6% year-on-year, reaching $408 billion. The smartphone wholesale ASP is expected to decline by 3.0% year-on-year, slightly dropping to $335.
The recovery path of the smartphone market is largely driven by healthy demand from emerging markets.
The Middle East and Africa, Latin America, and the Asia-Pacific region have achieved solid results, largely leading the market recovery. In contrast, the Central and Eastern Europe region has shown a downward trend due to geopolitical tensions. This quarter, North America and Western Europe experienced single-digit declines due to extended replacement cycles.
In the fourth quarter of 2024, Apple ranked first in the global smartphone market with a 23% market share. Samsung ranked second with a 16% market share. Xiaomi, Transsion, and Vivo occupied the remaining spots in the top five, followed by OPPO (OnePlus), Honor, Lenovo - Motorola, Huawei, and realme. Among the top ten manufacturers, only Samsung and Transsion showed a downward trend, while the other eight manufacturers achieved annual growth.
