Xiaomi is again the world's third most-selling phone brand

Market research firm Counterpoint has released its 2024 Global Smartphone Market Report, revealing a 4% year-on-year increase in global smartphone sales. This marks a recovery from two years of decline and an end to the decade-low figures recorded in 2023.

The report highlights the performance of the top brands, with Samsung, Apple, and Xiaomi taking the top three positions. Meanwhile, Huawei, Honor, and Motorola are rapidly emerging as key competitors among the top ten brands.

Key Insights from the Report

1. Samsung Retains Leadership

Samsung remains the market leader, bolstered by strong demand for its Galaxy S24 and A series.
The S24 series, featuring positioning AI technology, outperformed its predecessor, particularly in Western Europe and the U.S.

Samsung’s market share benefited from its diversified portfolio catering to multiple price segments.

2. Apple’s Stable Growth

Apple ranked second with an 18% market share.
Despite mixed reception for the iPhone 16 series, Apple maintained strong momentum in non-core markets like Latin America, Africa, and Asia Pacific.
Apple’s ability to appeal to diverse markets with its ecosystem played a crucial role in its success.

3. Xiaomi: The Fastest Growing Brand

Xiaomi achieved the fastest growth among the top five, solidifying its position as the third-largest smartphone brand globally.

This growth is attributed to:
- Strategic product line adjustments.
- A focus on the high-end segment, particularly through its Xiaomi 14 and 15 series.
- Aggressive market expansion into emerging regions.

4. OPPO and vivo Maintain Positions

OPPO ranked fourth, with a slight decline in sales but a rebound in performance by the year-end.
vivo held the fifth position, driven by strong performance in India and China, where it became the leading brand by the end of the year.

5. The Rise of Competitors

Brands like Huawei, Honor, and Motorola are gaining traction, becoming the fastest-growing players in the top ten. Their resurgence is reshaping the competitive landscape, particularly in markets like China and Europe.

Technological Innovations in 2024

2024 saw the introduction of generative AI technology in smartphones, a potential game-changer for the industry.

These features are currently limited to high-end devices, but adoption is expected to spread to mid-range smartphones in the coming years.
By 2028, 90% of smartphones priced over $250 are expected to integrate generative AI capabilities.

The smartphone market recovery in 2024 underscores renewed consumer demand and brand innovation. With Samsung, Apple, and Xiaomi leading the way, and emerging players like Huawei and Honor gaining ground, the competitive dynamics are set to intensify. The integration of generative AI into more devices promises to further transform the market, bridging the gap between high-end and mid-range segments.

Stay tuned as the industry continues to evolve with technological advancements and strategic market shifts.