The global smartphone market rebounded in 2024 with Apple leading shipments, marking the first significant growth after two years of decline, Canalys research showed.

The analyst house found that global smartphone shipments increased by 7 per cent year-on-year to 1.2 billion units, with Apple shipping a total 225.9 million iPhones, giving it top spot for the second consecutive year.

Strong sales in North America and Europe coupled with expansion into new markets helped the vendor offset a downturn in China sales.

In second place, Samsung shipped 222.9 million units, while Xiaomi followed with a 15 per cent increase to 168.6 million units.

Transsion claimed fourth spot for the first time with a 15 per cent increase and Oppo rounded out the top five with 3 per cent growth.

Emerging trends
Apple and Samsung’s strong performance was driven by a growing demand for premium smartphone models in the high-end segment, according to Sanyam Chaurasia, senior analyst at Canalys.

Apple’s iPhone 16 Pro and Pro Max registered an 11 per cent increase in shipments compared to sales of the 15 Pro and Pro Max models in 2023. Meanwhile, Samsung saw its best S-series sales since 2019.

Consumers increasingly chose premium models of flagship devices, “helped by vendors’ clearer differentiating models within their flagship series in an already price-inelastic segment”, he explained.

Runar Bjorhovde, analyst at Canalys, said the 2024 market recovery marks “the highest annual global shipment volume post-pandemic”, as consumers replaced pandemic-era smartphones and vendors capitalised on a mass-market demand surge with affordable products. However, he countered that prioritising volume also led to margin pressure for many vendors.

Bjorhovde added that vendors should brace for a challenging 2025. While emerging markets drove growth in 2024, their slowing expansion and factors including economic instability and potential US tariffs add uncertainty to the market. “Finding the right balance between short-term performance, inventory management and long-term investments will be key for vendors to succeed,” he said.