The global smartphone market demonstrated resilience in 2024, achieving 6.4% year-over-year growth to reach 1.24 billion units shipped, according to preliminary data from IDC’s Worldwide Quarterly Mobile Phone Tracker.
Shipments increased 2.4% year-over-year to 331.7 million units in the fourth quarter of 2024 (4Q24).
This marks a strong recovery following two years of decline, driven by factors like aggressive promotions, expanded price segments, and robust trade-in programs.
While global economic uncertainty persisted, including inflation and forex concerns in emerging markets, the market witnessed six consecutive quarters of growth. This growth was fueled by a combination of pent-up demand and continued refresh cycles.
“The smartphone market’s resilience in 2024 is a testament to vendors adapting their strategies to navigate challenging macroeconomic conditions,” said Nabila Popal, senior research director for Worldwide Client Devices at IDC. “However, the potential impact of new tariffs from the US administration remains a concern, though its current impact has been minimal.”
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Key market dynamics
Chinese vendors dominate: Chinese brands, including Xiaomi, Oppo, Vivo, Honor, and Huawei, collectively shipped the highest volume ever in a single quarter, capturing 56% of the global market share in Q4 2024. Their rapid expansion in regions like Europe and Africa, driven by strong low-end and mid-range offerings, contributed significantly to this success.
Foldable market stalls: Despite increased promotions, demand for foldable devices remained flat. As a result, vendors are shifting their R&D focus towards AI integration, which is increasingly prevalent across all price segments.
Apple and Samsung maintain lead: While maintaining the top positions, both Apple and Samsung experienced YoY declines in market share due to the aggressive growth of Chinese competitors.
Chinese vendors surge
“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,” said Francisco Jeronimo, vice president for EMEA Client Devices, IDC.
“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.”
“Despite the continued growth across several regions, we have seen a decreased demand for foldables in the market, despite intensified promotions and marketing,” said Anthony Scarsella, research director for Client Devices, IDC. “Vendors have started shifting R&D away from foldables as consumer interest remains flat. Moreover, numerous vendors are prioritizing new AI advancements at the expense of foldables as AI is increasingly featured on more devices, particularly at the market’s upper echelon thanks to GenAI.”
IDC expects continued growth in the smartphone market in 2025, albeit at a slower pace.
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