Smartphone Market Soars in 2024: Apple and Samsung Maintain Dominance
Smartphone Market Trends: Q4 2024 and Full-Year 2024 Results
The smartphone market concluded 2024 on a positive note, according to a preliminary report by the International Data Corporation (IDC). Q4 2024 saw a surge in shipments, with 331.7 million smartphones shipped during the three-month period, a 2.4% increase compared to the same period the previous year.
Top 5 Companies in Q4 2024
The top five companies in terms of smartphone shipments in Q4 2024 were:
• Apple: 76.9 million units, 23.20% market share, -4.10% growth
• Samsung: 51.7 million units, 15.60% market share, -2.70% growth
• Xiaomi: 42.7 million units, 12.90% market share, 4.80% growth
• Transsion and vivo: Both companies tied for fourth place with 27.2 million and 27.1 million units shipped, respectively, 8.20% market share each, and year-over-year growth of -3.40% and 12.70%
Full-Year 2024 Results
The full-year 2024 results show a similar picture, with Apple and Samsung leading the pack, but both experiencing slightly lower results compared to 2023. Xiaomi, in third place, had a great year with 15.40% year-over-year growth.
Folding Phones and Future Outlook
Vendors have begun shifting their focus away from folding phones as consumer interest remains flat. Meanwhile, numerous vendors are prioritizing AI advancements at the expense of foldables, as AI is increasingly featured on more devices, particularly at the upper end of the market.
Looking ahead to 2025, uncertainty is elevated due to new and increased tariffs from the US administration, driving some players to seek preventative measures to mitigate risks. Despite this, the impact has been minimal thus far.
Additional Insights
For more information and insights on the smartphone market trends, please refer to the sources below:
[source: IDC Worldwide Quarterly Mobile Phone Tracker, January 13, 2025]
Chart 1: Top 5 Companies, Worldwide Smartphone Shipments, Market Share, and Year-Over-Year Growth, Q4 2024
Chart 2: Top 5 Companies, Worldwide Smartphone Shipments, Market Share, and Year-Over-Year Growth, CY 2024
