Global Smartphone Market Report Q4 2024: Apple Leads, but Growth Slowdown Persists

Global Smartphone Market Report Q4 2024: Apple Leads, but Growth Slowdown PersistsThe global smartphone market showed signs of a slowing growth trajectory in the fourth quarter of 2024. According to a recent report by market analysis firm Canalys, global smartphone shipments reached 330 million units, representing a 3% year-on-year increase

Global Smartphone Market Report Q4 2024: Apple Leads, but Growth Slowdown Persists

The global smartphone market showed signs of a slowing growth trajectory in the fourth quarter of 2024. According to a recent report by market analysis firm Canalys, global smartphone shipments reached 330 million units, representing a 3% year-on-year increase. While this marks five consecutive quarters of positive growth, the rate of increase has significantly declined compared to previous periods. This data reflects a transition from high-speed to stable growth within the global smartphone market, coupled with intensifying competition.

In terms of brand competition, Apple demonstrated strong market competitiveness during the traditional new product launch quarter, securing the top spot globally with a 23% market share. This success is attributed to its continuous product innovation, strong brand influence, and the surge in sales driven by new product releases. Apple has surpassed Samsung for two consecutive years to become the global smartphone shipment leader, solidifying its dominance in the high-end market. Its strong performance in the premium segment effectively offset the impact of the overall market slowdown.

Samsung followed in second place with a 16% market share. Despite maintaining its second position, Samsung experienced a certain degree of market share decline compared to the same period last year. This might be related to intensifying market competition and adjustments to its product strategy, requiring further analysis of its performance across different price segments to pinpoint the cause.

Xiaomi captured third place with a 13% market share, and was the only one among the top three brands to achieve year-on-year growth. This indicates Xiaomi's strong competitiveness in the mid-to-low-end market and its successful navigation of market challenges. Xiaomi's growth is mainly driven by its aggressive expansion in emerging markets like Asia-Pacific and its cost-effective strategy.

Transsion and vivo secured fourth and fifth place, respectively. These two brands benefited from the recovery of emerging markets in Asia-Pacific, significantly increasing their market share in these regions. The Asia-Pacific market, with its immense potential, has become a focal point for smartphone manufacturers, and the success of Transsion and vivo demonstrates the importance of cultivating emerging markets.

For the full year 2024, global smartphone shipments reached 1.22 billion units, a 7% year-on-year increase. While still showing growth, this figure is lower than the high growth rates seen in previous years. The full-year data further confirms the overarching trend of slowing market growth. Intensified market competition, changes in consumer purchasing power, and the global economic environment are all potential contributing factors.

In summary, the global smartphone market in Q4 2024 exhibited a slowdown in growth and increased competition. Apple continued to lead, leveraging its high-end market advantage, while Xiaomi achieved counter-cyclical growth in the mid-to-low-end segment, and Transsion and vivo found new growth drivers in emerging Asian-Pacific markets. Samsung's declining market share reflects subtle shifts in the global smartphone market landscape. In the future, manufacturers will need to continuously innovate and enhance product competitiveness to maintain a leading position in this fiercely competitive market. The trend of slowing market growth indicates that smartphone manufacturers need more refined operations and to actively explore new market opportunities. Continuously monitoring market dynamics and adapting strategies will be crucial for smartphone manufacturers' future success.