Global Smartphone Market Rebounds In 2024 With Samsung Leading Recovery

The global smartphone market experienced a long-awaited recovery in 2024, achieving 4% year-on-year growth after two consecutive years of decline.

This is according to preliminary data from Counterpoint Research’s Market Pulse, which shows that the South Korean device maker, Samsung led other manufacturers in terms of smartphone shipments for the year.

This growth comes as macroeconomic conditions improve, boosting consumer sentiment and driving demand. Smartphone sales in 2023 had hit their lowest point in a decade.

Commenting on the rebound, Tarun Pathak, Research Director at Counterpoint Research, highlighted that 2024 marked a pivotal year of recovery for the industry.

“2024 was a year of recovery and normalization after a difficult 2023. Smartphones continue to be an essential product, pivotal to people’s daily lives.

“As macroeconomic pressures softened, the market started showing signs of recovery from Q4 2023 and has now grown for five consecutive quarters. Almost all markets showed growth, led by Europe, China, and Latin America,” he said.

Samsung retained its position as the global market leader in 2024, driven by robust demand for its Galaxy S24 and A-series devices.