Global Smartphone Market Recovery Slows in Q4 2024: Apple Leads, ASP Decline Continues

Global Smartphone Market Recovery Slows in Q4 2024: Apple Leads, ASP Decline ContinuesThe global smartphone market continued its recovery in the fourth quarter of 2024, but the growth rate significantly decelerated. A recent report from TechInsights revealed that global smartphone shipments reached 325

Global Smartphone Market Recovery Slows in Q4 2024: Apple Leads, ASP Decline Continues

The global smartphone market continued its recovery in the fourth quarter of 2024, but the growth rate significantly decelerated. A recent report from TechInsights revealed that global smartphone shipments reached 325.3 million units, a year-on-year increase of 2.6%, marking the fifth consecutive quarter of growth. However, this growth rate has fallen to the low single digits for two consecutive quarters, indicating weakening recovery momentum. Simultaneously, global smartphone wholesale revenue reached $120 billion (approximately 872.823 billion RMB), with a year-on-year increase of only 0.8%.

The downward trend in the average selling price (ASP) of smartphones is particularly noteworthy. In Q4 2024, the global smartphone ASP decreased by 1.7% year-on-year, falling to $369 (approximately 2684 RMB). This trend continued the overall performance for the entire year. For the full year 2024, the global smartphone ASP decreased by 3.0% year-on-year, dropping to $335 (approximately 2437 RMB). The persistent decline in ASP indicates that despite increased shipments, overall revenue growth in the smartphone industry remains suppressed, with manufacturers facing intense price competition.

Geographically, market performance showed significant variations. The Middle East and Africa, Latin America, and Asia Pacific regions were the main drivers of the global smartphone market recovery, exhibiting strong growth momentum. Economic development and increased consumer purchasing power in these regions provided significant growth impetus. However, the Central and Eastern European region experienced a downturn due to geopolitical tensions. Furthermore, North America and Western Europe also saw single-digit declines in Q4 2024, influenced by factors such as extended replacement cycles. Mature market environments and more cautious consumer spending in these regions resulted in sluggish growth.

In terms of manufacturer competition, Apple maintained its market leadership. In Q4 2024, Apple held the top spot in the global smartphone market with a 23% market share, demonstrating strong brand influence and product competitiveness. Samsung ranked second with a 16% market share, but experienced a degree of market share decline. Xiaomi, Transsion, and Vivo occupied the remaining top five positions, showcasing their growing influence in the global market.

Among the top ten manufacturers, OPPO (including OnePlus), Honor, Lenovo-Motorola, Huawei, and Realme all achieved annual growth, indicating progress in product innovation, marketing, and channel development, successfully increasing their market share. However, the report also points out that only Samsung and Transsion experienced market share declines among the top ten manufacturers, a trend that warrants further investigation and analysis. These manufacturers need to adjust their market strategies and product positioning to address increasingly fierce market competition.

For the full year 2024, the global smartphone market showed steady growth, with annual shipments reaching 1.2178 billion units, a year-on-year increase of 5.7%. Full-year wholesale revenue reached $408 billion (approximately 29.7 trillion RMB), a year-on-year increase of 2.6%. While the full-year data indicates positive market growth, the slowdown in Q4 suggests that the smartphone market may face new challenges in 2025. Manufacturers need to proactively address the declining ASP trend by focusing on technological innovation, product differentiation, and precise market positioning to enhance their competitiveness and ensure continued growth in a more challenging market environment.

In summary, the global smartphone market showed signs of a slowing recovery in Q4 2024. Apple continued to dominate the market, but overall market growth momentum weakened, and the decline in ASP became a significant trend. Market performance varied significantly across regions, and manufacturer competition intensified. In the future, smartphone manufacturers need to actively address challenges, using innovation and strategic adjustments to maintain their competitive advantage and adapt to market uncertainties. Continuous monitoring of market dynamics and in-depth analysis of consumer needs will be crucial for manufacturers' success in future market competition. The performance of the 2024 smartphone market provides important insights into market trends for 2025 and beyond, warranting in-depth study and discussion among industry professionals. The report demonstrates that while the global smartphone market is still growing, the growth rate is slowing, and competition is intensifying, requiring manufacturers to actively adjust their strategies to adapt to the changing market environment. Especially with the continued decline in ASP, manufacturers need to focus more on cost control and product innovation to improve their profitability and market competitiveness. Furthermore, the differences in market performance across regions remind manufacturers that they need to develop corresponding market strategies based on the characteristics of different markets to achieve success in the global market.

In the long run, the smartphone market still holds significant potential, but manufacturers need to proactively address challenges to succeed in intense competition. Technological innovation, product differentiation, precise market positioning, and efficient supply chain management will be key factors for the success of future smartphone manufacturers. Continuous monitoring of market trends and adaptation to market changes will be essential for the survival and development of smartphone manufacturers in future market competition. Only through continuous innovation and improvement can they stand out in the increasingly fierce market competition.