New Delhi . The global smartphone market made a strong comeback with sales expected to grow by 4 percent yearonyear in 2024. This information was given in a latest report that came on Monday.
Consumer sentiment remained better than previous years following macroeconomic reforms. According to Counterpoint Research, before this, smartphone sales in 2023 were the lowest in a decade.
Research Director Tarun Pathak said, “Smartphones remain an essential product, which is an important part of people's daily life. As macroeconomic pressures eased, the market started showing signs of recovery from the fourth quarter of 2023.” And has been growing for five consecutive quarters now. Almost all markets saw growth, led by Europe, China and Latin America.”
Samsung to continue to lead the market in 2024. The company's S24 Series and ASeries product lines continued to see strong demand.
According to the report, the S24 series is the first phone to be introduced as an AI device, outperforming all its previous models. It received a particularly good response in Western Europe and America.
Apple took second place with 18 percent share. Apple's iPhone 16 series received a mixed response, largely due to the lack of availability of Apple Intelligence at the time of launch. However, Apple continued to grow strongly in its noncore markets such as Latin America, Africa, and AsiaPacificOthers.
Xiaomi set to grow fastest among top five brands in 2024.
“Oppo fell to fourth place yearonyear, but ended the year with strong momentum. Vivo joined the top five due to strong performance in India and China, where it ended the year with the top rank,” the report said. Done as OEM.”
According to the report, “While GenAIenabled smartphones are limited to the premium segment for now, we expect GenAI to become a standard for midrange devices as well.”
The report says that by 2028, we expect nine out of ten smartphones priced above $250 to be GenAIenabled.
Sales of ultrapremium smartphones (those priced more than $1,000) grew the fastest in 2024 as consumers prioritized spending more on their next smartphone.
“In 2025, we expect revenue growth to outpace volume growth, with revenues seeing 8 percent yearonyear growth,” the report said.
—
– .
Image Credit: KhasKhabar.