According to Canalys‘ latest research, the global smartphone market grew by 3% in Q4 2024, reaching 330 million units, marking the fifth consecutive quarter of growth. However, the growth rate has slowed significantly compared to previous quarters.
Apple led the market in Q4 2024 with a 23% market share, benefiting from strong performance during its new product launch season. Samsung followed with a 16% share, experiencing a decline, while Xiaomi maintained third place with 13%.
Notably, Xiaomi was the only brand among the top three to achieve year-on-year growth, driven by its expanding presence in both its home market and globally. TRANSSION and vivo ranked fourth and fifth, benefiting from the recovery of emerging markets in the Asia-Pacific region.
For the full year 2024, global smartphone shipments totaled 1.22 billion units, reflecting a 7% year-on-year increase. Apple managed to maintain its lead over Samsung for the second consecutive year.
Q4 2024 Smartphone Market Share:
- Apple: 23% (down from 24% in Q4 2023)
- Samsung: 16% (down from 17% in Q4 2023)
- Xiaomi: 13% (unchanged from Q4 2023)
- TRANSSION: 8% (down from 9% in Q4 2023)
- vivo: 8% (up from 7% in Q4 2023)
- Others: 32% (up from 30% in Q4 2023)
Key Insights from Canalys Analysts:
Apple’s Performance: Apple grew in emerging markets like India and Southeast Asia, leveraging marketing and branding strategies to expand its channel coverage. However, competition and a prolonged replacement cycle in developed markets limited growth in some regions. Apple is expected to continue growing in 2025 with hardware upgrades and broader adoption of Apple Intelligence.
Android Brands’ Growth: Xiaomi, TRANSSION, and vivo achieved double-digit growth, particularly in emerging markets, driven by competitive products and extensive channel networks. Meanwhile, mid-range devices faced demand pressure, as consumers in emerging markets favored value-for-money products, and developed markets saw a trend toward higher average selling prices.
Challenges Ahead: Canalys analysts predict that replicating the growth of 2024 will be challenging in 2025, with demand fluctuations and macroeconomic uncertainties posing key challenges. Vendors are expected to focus on high-end products, integrating AI and innovating their product offerings to enhance competitiveness. Regional vendors will expand their channel coverage and product portfolios to tap into localized market opportunities, potentially reducing market concentration among leading vendors.
