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What you need to know
Smartphone sales have observed a remarkable resurgence, recording a 4% increase year-over-year in 2024, following a two-year period of decline. Although Samsung and Apple maintain their positions as the leading brands, their overall sales experienced slight decreases. Conversely, Xiaomi emerged as the fastest-growing smartphone manufacturer, bolstered by strategic portfolio adjustments and aggressive market expansion. Additionally, Huawei, HONOR, and Motorola garnered attention as some of the fastest-growing original equipment manufacturers (OEMs) among the top ten smartphone brands.
After a prolonged downturn, smartphone sales have rebounded. According to a recent report from Counterpoint Research, smartphone sales increased by 4% year-over-year, showing a 33% rise in 2024 compared to the previous year.
The catalyst for this shift can be attributed to a broader economic recovery in key markets such as Europe, China, and Latin America, allowing consumers increased purchasing power for new smartphones, as noted by Tarun Pathak, the research director at Counterpoint.
“Signs of recovery in the smartphone market have been evident since Q4 2023, resulting in five consecutive quarters of growth,” Pathak highlighted in the report.
Xiaomi, although ranked third, distinguished itself as the fastest-growing brand in the top tier, achieving a 12% growth from the previous year. This acceleration is credited to successful strategies including portfolio realignment, an emphasis on premium offerings, and proactive expansion initiatives.
(Image credit: CounterPoint)
Samsung, while experiencing a minor 1% decline in its overall sales, still led the market with a 19% share in 2024. The demand for its S24 series contributed significantly to maintaining this top position, particularly in the USA and Western Europe, as the S24 marked the company’s inaugural flagship model to feature Galaxy AI. This innovation introduced various advanced functionalities that helped it surpass previous models. Anticipation surrounds how much the forthcoming Galaxy S25 series will impact Samsung’s sales moving forward.
Apple followed closely in second place, holding an 18% market share driven largely by its iPhone 16 series. However, the launch of this series received mixed feedback due to some perceived shortcomings in innovation. Despite this, Apple managed to achieve growth in emerging markets such as Latin America, Africa, and the Asia-Pacific region.
In the fourth position, OPPO experienced an 8% decrease in sales, while Vivo, securing fifth place, finished strong as the leading OEM in both India and China. Huawei, HONOR, and Motorola continued to be ranked among the fast-evolving OEMs within the top ten.
Additionally, the previous year witnessed an increased integration of generative AI technologies, particularly in high-end smartphone models. Predictions from Counterpoint indicate that by 2028, it is expected that 90% of mid-range smartphones priced above $250 will incorporate generative AI features.
Looking ahead to 2025, market analysts anticipate that while sales figures may not revert to pre-pandemic levels, revenue growth is projected to outpace sales volume growth. The report forecasts an 8% year-over-year revenue increase compared to a 4% rise in sales volume.
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