Smartphone Shipments Surge in 2024, With Xiaomi and Vivo Leading the Charge
According to Omdia’s latest preliminary smartphone shipment report, the global smartphone market experienced a notable 2.9% increase in shipments in Q4 2024, reaching 328.4 million units. This growth marks the fifth consecutive quarter of year-on-year expansion, a sign of steady recovery after past market downturns. Overall, 2024 saw total smartphone shipments climb to 1,223.6 million units, up 7.2% from the previous year’s 1,141.9 million units. This growth signals a strong comeback for the smartphone industry after a period of sluggish performance.
Apple Maintains Dominance Despite a Slight Decline
Apple continued to lead global smartphone shipments in the fourth quarter of 2024, a pattern typically seen following the release of new iPhone models. The launch of the iPhone 16 series in Q3 2024 drove shipments to 77.1 million units. However, despite outperforming the iPhone 15 series in quarterly shipments, Apple saw a slight year-on-year decline. For 2024, Apple shipped 225.9 million units, down 1.4% from 2023’s 229.1 million units. Despite this drop, Apple retained its position as the world’s largest smartphone OEM for the second consecutive year, surpassing Samsung in 2023.
The primary challenge for Apple came from a weakening Chinese market, one of its key regions. As noted by Jusy Hong, Senior Research Manager at Omdia, Apple’s shipments were affected by the increasing lifespan of iPhones and the growing popularity of refurbished and second-hand devices. These factors impacted the sales of both new and legacy iPhone models.
Samsung Faces Shipment Decline
Samsung, Apple’s closest competitor, shipped 51.9 million units in Q4 2024. For the entire year, Samsung recorded 222.9 million shipments, representing a 1.1% decline from 2023. Notably, Samsung was one of the few brands to experience an overall decline in shipments during 2024, with the exception of Q2. This ongoing decline can be attributed to the contraction of the mid-range smartphone market, especially as Samsung’s A-series models constitute a significant portion of its shipments.
Xiaomi’s Robust Growth and Market Expansion
Xiaomi, on the other hand, experienced impressive growth in 2024, exceeding expectations with 168.6 million units shipped. This marked a 15.4% increase, or an additional 20 million units, compared to 2023. The launch of the Xiaomi 15 series and Redmi K80 series in the fourth quarter particularly boosted the brand’s performance in China. Additionally, Xiaomi aggressively expanded its presence in international markets, with a special focus on Africa and Latin America.
Transsion Holdings Stabilizes After Rapid Expansion
Transsion Holdings, the parent company of Infinix, iTel, and Tecno, saw its shipments stabilize in 2024 after a period of rapid growth in 2023. While the company could not maintain the high growth rates it experienced in the previous year, it achieved sustainable expansion. Total shipments for Transsion’s three brands amounted to 106.3 million units, a 14.8% increase from 92.6 million in 2023.
Vivo Shows Consistent Growth
Vivo also demonstrated solid growth, closing 2024 with total shipments of 100.8 million units, a 13.9% increase from 2023’s 88.5 million units. This growth is particularly significant for Chinese smartphone manufacturers as they recover from setbacks faced in 2023, especially in the Chinese and Asia-Pacific markets. Zaker Li, Principal Smartphone Analyst at Omdia, highlighted Vivo’s strategic approach, which focused on key markets like China and India, accounting for more than 77% of its global shipments in Q4 2024. Vivo further solidified its position in India by entering a joint venture with Dixon Technologies.
Oppo Group’s Modest Growth in 2024
The Oppo Group, which includes Oppo and OnePlus, saw moderate growth in 2024, with total shipments rising by 2.6% to 103.3 million units. However, this growth was driven mainly by Oppo, as OnePlus experienced a significant 20% drop in shipments compared to 2023. Despite challenges in its domestic market, Oppo’s strategic efforts in the second half of the year helped maintain a stable position.
Other Brands Achieve Strong Growth
Several other brands also posted impressive growth in 2024. Honor, Lenovo, Realme, and Huawei all recorded double-digit growth rates, outpacing the overall market. This success can be attributed to aggressive international expansion strategies, a resurgence in demand for budget smartphones, and improving market conditions in China and India.
Outlook for the Smartphone Industry in 2025
Jusy Hong concluded the analysis by stating, “2024 has proven to be a year of recovery for the smartphone industry, with the market reaching 1,223.6 million units, a 7.2% growth—the highest since 2021.” While the industry is unlikely to maintain this high growth rate, 2025 is expected to see similar or slightly lower shipment figures. However, the market is not anticipated to return to the low levels of 2023.
Overall, 2024 marked a year of stabilization for the smartphone industry. While some brands, such as Apple and Samsung, faced shipment declines, others like Xiaomi, Vivo, and Transsion Holdings capitalized on market opportunities to achieve significant growth. Chinese OEMs, in particular, played a crucial role in reshaping the global smartphone market, leveraging international expansion and strategic positioning. Moving into 2025, the industry is poised to continue its recovery, focusing on innovation and adapting to evolving consumer demands.
