- By Prateek Levi
- Wed, 15 Jan 2025 11:28 AM (IST)
- Source:JND
Worldwide Smartphone Market Tracker report: In the latest release of the Worldwide Smartphone Market Tracker report by the International Data Corporation, it has been observed that smartphone shipments have increased by 2.4% year-over-year to 331.7 million units in the fourth quarter of 2024. The market posted a growth of 6.4% and 1.24 billion shipments, suggesting a strong recovery after two years of decline in 2024.
The top two spots remained in the hands of Apple and Samsung in Q4, with 23.2% and 15.6% market share respectively, and for the whole year, with total shipments of 232.1 million and 223.4 million units, respectively.
The third position was secured by Xiaomi for the quarter with a 12.9% market share, and for the whole year, its shipments reached 168.5 million units. It also posted the highest YoY growth rate amongst the top 5 players at 15.4%.
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Transsion, which encompasses itel, Infinix, and Tecno, secured the 4th position in both Q4 and for the entire year, posting a growth rate of 12.7%. However, it shared the 4th spot in Q4 with vivo and tied with OPPO for the annual ranking.
Reasons For Growth
According to analysts, this growth in smartphone shipments in 2024 was caused by the brand's strategic moves which include promotions, launching multi-price segment devices, interest-free financing plans, and offering aggressive trade-ins. Another factor that needs to be taken into account is the exceptional growth of Chinese vendors, who have accomplished a historic milestone of the highest combined shipment volume ever recorded in just one quarter.
Francisco Jeronimo, vice president for EMEA Client Devices at IDC, commented on the growth of Chinese vendors in Q4 2024, stating:
"This past quarter was particularly remarkable for the largest Chinese smartphone vendors: Xiaomi, Oppo, Vivo, Honor, Huawei, Lenovo, realme, Transsion, TCL, and ZTE. They achieved a historic milestone as they shipped the highest combined volume ever in a quarter, representing 56% of the global smartphone shipments in Q4.
While their core markets remain China and Asia, these brands are rapidly expanding their footprint throughout Europe and Africa, driven by the strong performance of their low-end and mid-range devices. Notably, Huawei stands apart, with most of its shipments in the high-end and premium segments, underscoring its distinct market positioning in China."
Foldables Face Decline
However, when it comes to foldables, despite aggressive promotions and marketing strategies, the shipments in this segment continue to face challenges due to decreasing consumer demand. Therefore, companies can be seen making a shift and focusing their R&D on implementing AI features on smartphones, which is expected to drive growth in 2025 as well.
Nabila Popal, senior research director for Worldwide Client Devices at IDC, commented on the global smartphone shipment, stating:
"The strong growth witnessed in 2024 proves the resilience of the smartphone market as it occurred despite lingering macro challenges, forex concerns in emerging markets, ongoing inflation, and lukewarm demand.
Vendors successfully adjusted their strategies to drive growth by focusing on promotions, launching devices in multiple price segments, interest-free financing plans, and aggressive trade-ins—fueling premiumization and boosting low-end devices—especially in China and emerging markets. While we remain optimistic about continued growth in 2025, the threat of new and increased tariffs from the new US administration has elevated uncertainty across the industry, driving some players to seek preventative measures to mitigate risks; however, thus far, the impact has been minimal."