Report: Global Smartphone Shipments Expected to Reach 1.2 Billion Units this Year

Global smartphone shipments are expected to increase by 3% in 2024, reaching 1.2 billion units, according to a report by Counterpoint Research. The budget segment ($150-$249) and premium segment ($600-$799) are anticipated to drive this growth, especially in emerging markets like India and MEA.

Emerging markets such as India and MEA are expected to boost the global smartphone market in 2024, with the budget-economy segment rebounding by 11% YoY. The premium segment is also predicted to see a steady growth of 17% YoY, driven by factors like GenAI smartphones and the popularity of foldables.

Apple and Huawei are projected to lead the growth in the premium segment, with Apple benefiting from steady demand for iPhones in emerging markets like India and MEA. The report suggests that the global smartphone market is likely to see low-single-digit increases in the coming years, indicating a stabilization after a period of decline in previous years.