Omdia: Global Smartphone Shipments Rebound With 7.2% Growth in 2024, Amid Industry Recovery

Rhea-AI Summary

Global smartphone shipments showed strong recovery in 2024, reaching 1,223.6 million units, a 7.2% increase from 2023. The market recorded five consecutive quarters of year-on-year growth, with Q4 2024 reaching 328.4 million units (+2.9%).

Apple maintained its position as the world's largest smartphone manufacturer despite a 1.4% decline to 225.9 million units in 2024. Samsung experienced a 1.1% decline to 222.9 million units. Xiaomi showed remarkable growth with 168.6 million units (+15.4%), while Transsion Holdings reached 106.3 million units (+14.8%). Vivo achieved 100.8 million shipments (+13.9%), and Oppo Group grew 2.6% to 103.3 million units.

Honor, Lenovo, Realme, and Huawei all achieved double-digit growth, driven by overseas market expansion and recovery in Chinese and Indian markets.

Positive

• Global smartphone market grew 7.2% in 2024, highest since 2021
• Five consecutive quarters of year-on-year growth
• Xiaomi shipments increased 15.4% to 168.6 million units
• Transsion Holdings shipments grew 14.8% to 106.3 million units
• Vivo shipments rose 13.9% to 100.8 million units

Negative

• Apple shipments declined 1.4% to 225.9 million units
• Samsung shipments fell 1.1% to 222.9 million units
• OnePlus brand experienced over 20% decline in shipments
• Apple facing difficulties in Chinese market
• Samsung struggling in mid-range smartphone market

Insights

Technology Industry Analyst

The global smartphone market's 7.2% growth in 2024 marks a pivotal recovery moment, with total shipments reaching 1,223.6 million units. This revival presents a complex competitive landscape with significant implications for industry dynamics.

Apple's position as market leader masks concerning trends. The 1.4% decline in shipments, despite the iPhone 16 launch, signals structural challenges rather than cyclical weakness. The growing preference for refurbished devices in China represents a fundamental shift in consumer behavior that could impact premium segment margins industry-wide.

Samsung's continued decline, particularly in mid-range segments, reflects a broader market transformation. The 1.1% shipment decrease highlights the collapse of traditional mid-range positioning as Chinese manufacturers offer premium features at aggressive price points. This suggests a potential long-term restructuring of market segmentation.

The remarkable performance of Chinese manufacturers reveals a shifting competitive landscape:

• Xiaomi's 15.4% growth demonstrates successful premium segment penetration and emerging market expansion
• Transsion's 14.8% growth validates the viability of a focused emerging market strategy
• vivo's 13.9% growth showcases the effectiveness of strategic market concentration versus broad expansion

The market's evolution suggests a new paradigm where regional specialization and price-to-feature optimization become critical success factors. The industry's recovery, while robust, indicates a mature market entering a phase of heightened competition and regional specialization, with growth increasingly dependent on emerging market dynamics and replacement cycle management.

LONDON--(BUSINESS WIRE)-- According to the latest Omdia smartphone preliminary shipment report, global shipments reached 328.4 million units in 4Q24 marking a 2.9% increase. This growth extends the smartphone market’s streak to five consecutive quarters of year-on-year growth. For the full year 2024, total shipments climbed to 1,223.6 million units, a 7.2% increase from 1,141.9 million units in 2023 signaling a steady recovery for the industry.

Annual Smartphone Shipments by Top 10 OEM (Graphic: Business Wire)

Apple led global smartphone shipments in 4Q24, as is typical for the fourth quarter, following the launch of the new iPhone 16 series. The iPhone 16 lineup, released in the third quarter, drove shipments to 77.1 million. While the iPhone 16 series outperformed its predecessor in quarterly shipments, this still marked a decline from the previous year. For the full year of 2024, Apple shipped 225.9 million units, down 1.4% from 229.1 million in 2023. Despite this fall, Apple remained the world’s largest smartphone OEM of the year, a position it first secured in 2023 after overtaking Samsung.

“Apple is facing difficulties in China, its primary market. Despite the launch of the iPhone 16 series, overall shipments have declined. This is attributed to the increasing lifespan of iPhones, the growing demand for refurbished and used iPhones is impacting shipments of standard or legacy models,” said Jusy Hong, Senior Research Manager at Omdia.

Samsung recorded 51.9 million units in 4Q24, bringing its 2024 total to 222.9 million units, a 1.1% fall from 2023. Samsung is one of the few manufacturers to see overall shipment declines throughout 2024, except for 2Q24. This continuous decline is likely due to the collapse of the mid-range smartphone market, as the A-series makes up most of the company’s shipments.

Xiaomi has exceeded expectations throughout 2024, maintaining strong global growth with 168.6 million unit shipments, an increase of over 20 million smartphones (15.4%) compared to 2023. The Xiaomi 15 series and Redmi K80 series both launched in 4Q24 and have been very successful in China. The company has also been actively expanding into overseas markets, particularly in Africa and Latin America.

Transsion Holding, whose brands include Infinix, iTel and Tecno, saw shipments stabilize in 2024 following rapid expansion in 2023. While the company was unable to maintain its high growth, resulting in fluctuating year-on-year growth, Transsion has succeeded in achieving more sustainable growth. Combined shipments of all three brands total 106.3 million units in 2024, up 14.8% from 2023’s 92.6 million.

vivo experienced steady growth throughout 2024, finishing the year with a total of 100.8 million shipments. This is 12 million more (13.9%) than in 2023, when it recorded 88.5 million shipments. This growth is significant for Chinese manufacturers as they recover from the significant setback faced in 2023 following declines in both domestic Chinese market and overseas APAC markets.

Zaker Li, Omdia Principal Smartphone Analyst said, “vivo has demonstrated remarkable resilience against ongoing intense market competition in 2024. While other brands have focused on aggressive market expansion strategy, vivo opted to focus more strategically on specific markets. It continues to lead in both the China and India markets, which together account for more than 77% of vivo global shipments in 4Q24. Following the economic turmoil in India, vivo also reached a cooperative agreement with Dixon Technologies to establish a joint venture further strengthening vivo's leadership in the India market.”

Oppo Group, which includes both the Oppo and OnePlus brand, faced challenges in its domestic markets throughout most of 2024. Despite this, the company has experienced strong growth in the second half of the year. Oppo Group recorded a 2.6% overall growth in 2024, with a total of 103.3 million units, up from 100.7 million units in 2023. This growth was driven entirely by the Oppo brand, while the OnePlus brand saw a decline of more than 20% between 2023 and 2024.

Honor, Lenovo, Realme, and Huawei all achieved double-digit growth, far outpacing the overall market growth rate. This growth was powered by Chinese OEMs' expansion into overseas markets, a recovery in demand for budget smartphones, and the resurgence of smartphone demand in China and India.

Concluding the analysis, Hong noted: “Looking back on 2024, it’s clear that the smartphone industry has recovered from the shipment volume decline seen in 2023. With the global smartphone market reaching 1,223.6 million units in 2024, this represents a strong 7.2% annual growth rate, the highest since 2021, and is higher than the initial forecast. While it is unlikely that this growth will continue, 2025 is expected to be in line with or slightly less than 2024, though it should not drop back to the low point of 2023 for the industry.”

ABOUT OMDIA

Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250203664882/en/

Fasiha Khan - fasiha.khan@omdia.com

Source: Omdia

FAQ

What was the global smartphone market growth rate in 2024?

The global smartphone market grew by 7.2% in 2024, reaching 1,223.6 million units shipped, marking the highest growth rate since 2021.

How many smartphones did Apple ship in 2024?

Apple shipped 225.9 million smartphones in 2024, representing a 1.4% decline from 229.1 million units in 2023.

Which smartphone manufacturer showed the highest growth in 2024?

Among major manufacturers, Xiaomi showed the highest growth with a 15.4% increase, shipping 168.6 million units in 2024.

Why did Apple's smartphone shipments decline in 2024?

Apple's decline was attributed to difficulties in the Chinese market and increasing iPhone lifespan, with growing demand for refurbished and used iPhones impacting new model shipments.

What caused Samsung's smartphone shipment decline in 2024?

Samsung's decline was primarily due to the collapse of the mid-range smartphone market, as the A-series makes up most of the company's shipments.