Agency forecast: Global smartphone shipments will grow 3% this year to 1.2 billion units

According to news on April 12, research organization Counterpoint Research predicts that global smartphone shipments will rebound slightly by 3% year-on-year in 2024, reaching 1.2 billion units. The economy segment ($150-249) and premium segment ($600-799) are expected to drive this rebound in 2023.

▲ Picture source Counterpoint Research

Chinese OEMs such as OPPO, vivo, Xiaomi and Transsion Group have a strong impact on the Middle East, Africa and CALA markets (Caribbean and Latin America) Steady investment has intensified competition and fueled demand for affordable smartphones. The budget economy segment ($150-$249) market is expected to rebound 11% year-over-year in 2024. The high-end segment ($600-$799) is expected to maintain steady growth in 2024, growing 17% year-on-year, driven by older model flagships and growth in the generative AI smartphone and foldable phone segments. From a brand perspective, emerging markets such as India, the Middle East and Africa will drive Apple's iPhone sales growth, and Huawei in China will continue to be a key factor in the growth of the high-end smartphone market. Counterpoint said that in the long term, global smartphone shipments are expected to see single-digit year-over-year growth as the market bottoms out. We have also noticed that various manufacturers are currently actively seeking business breakthroughs. Manufacturers represented by OPPO and Meizu have recently announced the development direction of "All in AI"; manufacturers represented by Huawei and Xiaomi have begun to enter the automobile market. ; Apple began to seek development opportunities in the MR market.

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