Omdia: Global smartphone shipments rebound in 2024, with a year-on-year growth of 7.1%

According to the latest preliminary smartphone shipment report released by Omdia, global shipments reached 328 million units in the fourth quarter of 2024, a year-on-year increase of 2.8%. This growth marks the fifth consecutive quarter of year-on-year growth for the smartphone market. The total shipments for the entire year of 2024 climbed to 1.223 billion units, an increase of 7.1% compared to 1.142 billion units in 2023, indicating a steady recovery in the industry.

In the fourth quarter of 2024, Apple launched the new iPhone 16 series, leading global smartphone shipments, which is a typical feature of the fourth quarter. The iPhone 16 series, released in the third quarter, drove global shipments of iPhones to 77.1 million units in the fourth quarter. Although the quarterly shipments of the iPhone 16 series exceeded those of the previous generation, Apple's overall shipments still declined compared to the same period last year, decreasing by 1 million units from 78.1 million units in the fourth quarter of 2023. For the entire year of 2024, Apple's shipments totaled 225 million units, down 1.4% from 229 million units in 2023. Despite the decline, Apple remains the world's largest smartphone manufacturer this year, regaining this position after surpassing Samsung in 2023.

"The sales of iPhones are facing difficulties in China. Despite the launch of the iPhone 16 series, overall shipments still declined," said Jusy Hong, Senior Research Manager at Omdia. "This is due to the increasing lifespan of iPhones, along with the growing demand for refurbished and second-hand iPhones, which has affected the shipments of standard and traditional models."

Samsung's shipments in the fourth quarter of 2024 reached 51.9 million units, bringing its total shipments for 2024 to 223 million units, a decline of 1.1% compared to 2023. Apart from the second quarter of 2024, Samsung is one of the few manufacturers experiencing a decline in overall shipments for the entire year of 2024. The ongoing decline is attributed to the slowdown in demand for mid-range smartphones, as the A series accounts for most of the company's shipments.

Xiaomi performed better than expected throughout 2024, maintaining strong global growth momentum with shipments reaching 169 million units, an increase of over 20 million smartphones compared to 2023. The Xiaomi 15 series and Redmi K80 series were both launched in the fourth quarter of 2024 and achieved great success in the Chinese market. The company is also actively expanding into overseas markets, particularly in Africa and Latin America.

Transsion's brands, including Infinix, iTel, and Tecno, stabilized in 2024 after rapid expansion in 2023. Although the company failed to maintain high growth, Transsion's growth performance appears more sustainable. In 2024, the total smartphone shipments of all three brands reached 107 million units, an increase of 15.3% compared to 92.6 million units in 2023 vivo achieved steady growth throughout 2024, with total shipments reaching 101 million units. This represents an increase of 12 million units (14.0%) compared to 88.5 million units in 2023. This growth is significant for Chinese manufacturers as they recover from the major setbacks of declining domestic and overseas markets in the Asia-Pacific region in 2023.

Omdia's chief smartphone analyst Zaker Li stated, "In 2024, vivo demonstrated extraordinary resilience in the face of fierce market competition. While other brands focused on aggressive market expansion strategies, vivo chose to strategically concentrate on specific markets. In the Chinese and Indian markets, vivo continued to maintain its leading position, with these two markets accounting for over 77% of vivo's global shipments in 2024. After experiencing the turmoil of the Indian economic investigation, vivo also reached a cooperation agreement with Dixin Technology to establish a joint venture, further strengthening vivo's leadership in the Indian market."

Oppo Group (including the Oppo and OnePlus brands) faced challenges for most of 2024. Nevertheless, the company achieved strong growth in the second half of the year. In 2024, Oppo Group's overall growth was 2.8%, with total sales increasing from 101 million units in 2023 to 104 million units. This growth was entirely driven by the Oppo brand, while the OnePlus brand saw a decline of over 20% from 2023 to 2024.

Honor, Lenovo, and Huawei all achieved double-digit growth, far exceeding the overall market growth rate. This growth was attributed to the expansion of Chinese manufacturers into overseas markets, the recovery of demand for budget smartphones, and the resurgence of smartphone demand in China and India.

Jusy Hong summarized the analysis by stating, "Looking back at 2024, it is clear that the smartphone industry has recovered from the shipment decline in 2023. The global smartphone market is expected to reach 1.223 billion units in 2024, with a year-on-year growth rate of 7.1%, the highest growth rate since 2021, surpassing the initially forecasted 1.21 billion units. Although this growth is unlikely to be sustained, shipments in 2025 are expected to be flat or slightly lower than in 2024, but should not fall back to the lows of 2023."