The global smartphone market grew by 7% to 1.22 billion units in 2024, marking a rebound after two consecutive years of decline, with emerging markets highlighted as the industry’s key growth driver.
According to Canalys analyst Runar Bjorhovde, 2024 recorded the highest shipment volume since the pandemic, as demand surged in the mass-market segment. This growth was “driven by a refresh cycle of smartphones purchased during the pandemic, alongside channel replenishments.”
Bjorhovde added that emerging markets experienced “robust growth,” while mature economies also saw recovery—Mainland China grew by 4%, the Americas by 1%, and Europe by 3%.
Vendor market share
Apple saw its iPhone shipments decline by just 1% to 225.9 million units but maintained its position as the market leader, supported by growth in emerging markets and stable performance elsewhere. The company recently expanded its presence by opening new Apple Stores in India.
Samsung ranked second with 222.9 million units, also posting a 1% decline. Xiaomi secured third place with 168.6 million units, growing 15%, and was identified by Canalys as the industry’s biggest volume gainer, driven by its expansion in emerging markets.
Transsion placed fourth, while Oppo rounded out the top five, growing by 15% and 3% to 106.7 million and 103.6 million units, respectively.
Sanyam Chaurasia, Senior Analyst at Canalys, noted that Apple and Samsung benefited from the ongoing trend of premiumisation.
However, Bjorhovde warned that while emerging markets powered growth in 2024, vendors now face a “tricky 2025” as markets approach saturation and economic uncertainties persist—particularly in the US, where tariffs and compliance requirements could add further unpredictability.
