For a couple of years, sales in the smartphone market have been in decline. Factors such as the effects of COVID and shortages of key semiconductor materials severely impacted the industry. Now, after some hard times, 2024 marked the start of the smartphone market’s recovery.
The downward trend of the smartphone market was more evident than ever in 2023. That year, we saw the lowest smartphone sales in the last decade. Manufacturers were moving in this situation as best they could, applying different strategies. Samsung and Google saw the implementation of artificial intelligence in their mobile devices as a potential way to make them more attractive. Now, it seems that the movement has paid off for both— especially for Samsung.
2024 brought the first growth of the smartphone market in two years
During Q3 2024, Pixel 9 devices achieved the “highest-ever” quarterly sales in the history of the series. However, Google still has a lot of work ahead of it to establish its mobile devices in the global top 10. Meanwhile, Samsung managed to maintain its position as the leading smartphone brand in the world with a 19% market share. Apple keeps second place, boasting an 18% global market share.
According to a Counterpoint Research report, 2024 saw 4% growth in global smartphone sales. Xiaomi seems to have been the brand that has best navigated the turbulent waters of recent years. In 2024, the Chinese giant increased its global market share by 1% compared to 2023. It might not seem like much, but in the middle of the situation, it was a big milestone. In fact, Samsung and Apple each lost 1% of their global market share last year. Still, both maintained a fairly stable financial performance.
Xiaomi’s strategy has paid off
It’s noteworthy that Xiaomi phones still have no presence in the United States. This makes its global position in the tech industry even more impressive. The company’s strategy included restructuring its product portfolio, a bigger focus on the premium segment, and aggressive expansion into more countries in Europe, Asia, and Africa.
The report also highlights the good commercial performance of Samsung’s Galaxy S24 and Galaxy A series. On the other hand, the iPhone 16 series has had a reception below expectations. Apparently, the Apple Intelligence suite is not proving to be the differentiating factor that the Cupertino giant expected.
