Global smartphone shipments grew by 2.4% year-over-year (YoY) in the fourth quarter of 2024, reaching 331.7 million units, according to the latest IDC Worldwide Quarterly Mobile Phone Tracker report. This marked the sixth consecutive quarter of growth, with total shipments for the year increasing by 6.4% to 1.24 billion units. The market showed resilience despite economic challenges, including inflation, forex fluctuations in emerging markets, and weak consumer demand. IDC projects continued growth in 2025, though at a slower pace, as demand stabilizes.
The market’s recovery was driven by strategic adjustments from smartphone vendors, including aggressive trade-in offers, flexible financing options, and diversified product launches across price segments. Premiumization and low-end device sales played a crucial role, particularly in China and emerging markets. However, uncertainty remains due to potential tariff increases from the new U.S. administration, prompting manufacturers to take precautionary measures.
Apple and Samsung retained their leading positions but experienced market share declines as Chinese manufacturers rapidly expanded. Xiaomi recorded the highest YoY growth among the top five brands, while Transsion, Vivo, and OPPO competed closely for market position. Notably, Chinese brands, including Huawei, Honor, and Realme, collectively accounted for 56% of global smartphone shipments in Q4, marking their highest-ever combined quarterly sales.