Xiaomi is the fastest growing brand in the global market

According to the latest Global Quarterly Mobile Phone Tracking Report from IDC, the worldwide smartphone market continued its strong recovery. In Q4 2024, shipments increased 2.4% year-over-year to 331.7 million units, marking the sixth straight quarter of growth. For the full year, it is expected to increase 6.4% year-over-year to 1.24 billion units, following two consecutive years of decline.

Key Highlights

1. Market Trends: Growth in 2024 was driven by pent-up replacement demand and strong performance in low-end and mid-range devices.
2. IDC forecasts slower growth in 2025 as the extended replacement cycle tempers demand.
3. Manufacturer Rankings: Apple and Samsung retained the top two positions for Q4 and for the entire year, but both suffered a year-over-year decline in market share and shipment share because of strong momentum from Chinese brands.
4. Xiaomi was the fastest-growing brand among the top five, ranking third for both Q4 and the full year.
5. Transsion had the same Q4 rank as vivo and the same full-year rank as OPPO, reflecting a tightening race among Chinese companies.
6. Chinese Manufacturers’ Milestone: Chinese brands including Xiaomi, OPPO, vivo, Honor, Huawei, Lenovo, and others accounted for 56% of global smartphone shipments in Q4 2024, their highest share to date.

While China and Asia remain the largest markets, these brands are expanding rapidly in both Europe and Africa on the back of their low-end and mid-range devices.

Huawei stood out, targeting high-end and ultra-high-end segments to consolidate its premium positioning in the Chinese market.

Expert Insights

IDC EMEA Vice President, Francisco Jeronimo emphasized that “The performance of Chinese brands was outstanding in the last quarter. They are indeed changing the face of the global smartphone landscape. By dominating low and mid-tier segments, they can attain a strong position in the overall market, mainly outside of China.”.

The recovery of the global smartphone market in 2024 indicates a change in consumer demand and market dynamics. The competitive landscape is changing fast, with Chinese manufacturers already holding more than half of global shipments. While Apple and Samsung are struggling, Xiaomi, OPPO, and vivo will be well positioned to leverage their growth momentum and expand their influence worldwide.

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