The Global Smartphone Market Rebounds in 2024: Apple and Samsung Lead, While BBK Electronics Holds the Largest Share

The Global Smartphone Market Rebounds in 2024: Apple and Samsung Lead, While BBK Electronics Holds the Largest ShareThe global smartphone market showed a positive recovery in 2024. According to Canalys' latest report, global smartphone shipments reached 1

The Global Smartphone Market Rebounds in 2024: Apple and Samsung Lead, While BBK Electronics Holds the Largest Share

The global smartphone market showed a positive recovery in 2024. According to Canalys' latest report, global smartphone shipments reached 1.22 billion units, a 7% increase compared to 2023, ending two consecutive years of decline. This growth indicates the market is gradually recovering from a downturn and demonstrating resilience. However, the market landscape has subtly shifted, and competition remains fierce.

The report shows Apple and Samsung maintained their market leadership, each holding an 18% share and tying for first place. This reflects the strong brand influence and product competitiveness of these two giants, who possess solid user bases in the high-end market and consistently launch innovative products to meet evolving consumer demands. Notably, despite a minor 1% year-on-year decline in shipments for both companies, their market leadership remains unchallenged, highlighting the stability of their market share.

Following Apple and Samsung is Xiaomi, with a 14% market share and strong sales growth. Xiaomi's success is largely attributed to its robust performance in mainland China and strategic expansion into emerging markets. This dual-pronged approach effectively mitigates single-market risks and fuels sustained growth. Xiaomi's success story provides valuable lessons for other smartphone manufacturers.

Transsion and Oppo secured the fourth and fifth positions with 9% and 8% market shares, respectively. Transsion focuses on emerging markets like Africa, succeeding by accurately understanding local consumer needs and offering reasonably priced, reliable products. Oppo, through its presence in the mid-to-high-end market and innovative technologies, maintained a stable market share.

Vivo also achieved an 8% market share, matching Oppo, while Honor and Lenovo each held 5%. Huawei and Realme each captured 4% of the market. While these manufacturers hold relatively smaller shares, they demonstrate competitiveness in niche markets and continue to explore new growth opportunities.

However, combining Vivo, Oppo, and Realme all part of the BBK Electronics group their total market share reaches 20%, surpassing Apple and Samsung, making BBK Electronics the world's largest smartphone manufacturer group. This data indicates BBK's powerful brand matrix and multi-brand strategy play a significant role in the global smartphone market. The reason why Canalys and some other analysis firms categorize Transsion separately while combining BBK brands remains unclear, but it doesn't diminish BBK's immense market influence.

In terms of specific brand sales, Apple shipped 225.9 million iPhones in 2024, a 1% year-on-year decrease; Samsung shipped 222.9 million Galaxy phones, also down 1%; Xiaomi shipped 168.6 million units, a 15% increase; Transsion shipped 106.7 million units, up 15%; and Oppo (including OnePlus) shipped 103.6 million units, a 3% increase. The strong growth of Xiaomi and Transsion further confirms the sustained demand for smartphones in emerging markets.

Regionally, mainland China's smartphone shipments grew by 4% year-on-year in 2024, North America by 1%, and Europe by 3%. This shows that while the global smartphone market is recovering, growth rates vary across regions. Mainland China, the world's largest smartphone market, significantly impacts the overall global trend.

Analyzing Q4 2024 data, Apple led with 77.1 million shipments and a 23% market share, but saw a 1% year-on-year decline. Samsung came in second with 51.9 million units and a 16% market share, experiencing a 3% year-on-year drop. Xiaomi shipped 27.2 million units (8% market share), down 4% year-on-year; while Vivo shipped 26.4 million units (8% market share), seeing a 10% year-on-year increase. Q4 data highlights the intense competition, with manufacturers actively adjusting strategies to adapt to market changes. While Apple maintains its lead, its growth momentum has weakened, while other manufacturers aggressively pursue market share.

In conclusion, the global smartphone market exhibited a positive recovery in 2024, but competition remains fierce. Apple and Samsung continue to lead, while the rapid growth of Xiaomi, Transsion, and others injects new vitality into the market. BBK Electronics, with its strong brand portfolio, emerged as the world's largest smartphone manufacturer group, demonstrating its powerful market competitiveness. The future global smartphone market will continue to face challenges and opportunities; manufacturers need to innovate and adapt to market changes to achieve sustained growth. The varying growth rates across different regions indicate manufacturers need region-specific strategies to better seize market opportunities. Further market trends require continued monitoring.