After two years of decline, the smartphone industry is regaining color

The study institute named Counterpoint has been busy researching the smartphone industry, and its report indicates that after two consecutive years of decline, the industry is finally enjoying annual growth. “The year 2024 was a year of recovery and normalization after a difficult 2023” began the research director of the study, Tarun Pathak, before continuing in these terms: “smartphones remain an essential, indispensable product in people's daily lives As macroeconomic pressures have eased, the market began to show signs of recovery from the fourth quarter of 2023 and has now recorded five consecutive quarters of growth.

Samsung and Apple still in the lead

Furthermore, almost all markets showed growth, whether Europe, China or Latin America. But then, who are the main players to have benefited from this growth? According to the study, Xiaomi benefited from an annual increase of 12%: Counterpoint attributes this breakthrough in particular to a greater place in the field of high-end devices. The worst performer between 2022 and 2024 was Oppo, which only enjoyed growth of 8%.

But then, who are the main players in the smartphone market? The study is responsible for answering this question as well. Thus, Samsung has 19% of the smartphone market share and therefore occupies first position just ahead of Apple and its 18%. In third position comes Xiaomi (14%, followed by Oppo (8%) then Vivo (8%). The rest of the brands represent 33% of total sales, compared to 30% in 2022. In short, everything is going well in the sector, even if it seems obvious that smaller players are starting to create a place of choice for themselves on the market.