TechInsights published an article stating that in the fourth quarter of 2024, global smartphone shipments increased by 2.6% year-on-year to 325.3 million, maintaining a recovery trend for five consecutive quarters. However, the growth rate has slowed to low single digits for two consecutive quarters. Global smartphone wholesale revenue reached US$120 billion, a year-on-year increase of 0.8%. Smartphone wholesale average selling price (ASP) fell 1.7% year-on-year to US$369. For the full year of 2024, global smartphone shipments increased by 5.7% year-on-year to 1.2178 billion units, and smartphone wholesale revenue increased by 2.6% year-on-year to US$408 billion. Smartphone wholesale ASP fell 3.0% year-on-year to slightly US$335.
The road to recovery in the smartphone market is largely driven by healthy demand in emerging markets
Africa Middle East, Central Latin America and Asia Pacific have achieved solid results, leading the market recovery to a large extent. In contrast, Central and Eastern Europe showed 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 (AAPL.US) ranked first in the global smartphone market with a market share of 23%. Samsung ranked second with a market share of 16%. Xiaomi (01810), Transsion and vivo occupied the rest of the top five seats, followed by OPPO (OnePlus), Honor, Lenovo-Motorola, Huawei and realme. Among the top ten manufacturers, only Samsung and Transsion showed a downward trend, and the remaining eight manufacturers achieved annual growth.