Global Smartphone Market Rebounds in 2024, But Apple Lags Behind Amidst Android Surge
1min read According to a recent report by IDC, while the global smartphone market is set for a robust rebound in 2024 after two years of decline, Apple is poised to miss this wave of recovery. The report forecasts that global smartphone shipments will grow by 6.2% to approximately 1.24 billion units. However, iPhone sales are expected to increase by a mere 0.4%, significantly trailing the overall market growth.
The lag in Apple's growth highlights the rapid progress made by Android-based competitors, especially in China and emerging markets. Despite Apple's slow sales growth, IDC notes that it continues to lead in profit, with an average selling price exceeding $1,000, compared to $295 for its Android rivals. This price discrepancy underscores Apple's positioning in the premium segment, where it remains dominant despite external pressures.
While artificial intelligence has started influencing the smartphone market, the post-pandemic recovery remains uneven. IDC suggests that much of the growth is driven by pent-up demand and expansion in regions with lower smartphone penetration. Android manufacturers have capitalized on this opportunity by offering more affordable devices, allowing Chinese brands to capture additional market share, while Apple is expected to perform better next year.
Among the giants like Samsung, Apple, and Google, the integration of AI-enhanced features is a significant trend, yet it has not generated substantial consumer excitement. Nabila Popal, IDC's research director, indicates that although generative AI is a focal point for many vendors, it hasn't yet spurred demand or prompted early upgrades. More investments are needed to boost consumer awareness and introduce must-have features to create the anticipated super cycle in the market.
Globally, smartphone shipments have not yet returned to pre-pandemic levels, and IDC projects that future growth will remain in the single digits. Factors contributing to this stagnation include extended upgrade cycles, market saturation in developed economies, and the expanding trade of second-hand smartphones.