Mere hours after Apple posted its best quarterly performance in its Q1 2025 financial results, the latest data set reveals the global smartphone revenue share for 2024. As you would have guessed, the technology titan took first place by securing 46 percent of all earnings, along with establishing the highest annual average selling price for the year. However, its dominating position is being threatened by Chinese smartphone makers, each of whom is fighting tooth and nail to secure those profits.
Overall, global smartphone revenue share for 2024 grew 5 percent year-over-year, ending a two-year consecutive decline, with macroeconomic conditions and consumer sentiment improving
The latest figures posted by Counterpoint Research paint the global smartphone revenue share for 2024 in a positive light, with the average selling price metric jumping to $356 after a two-year decline. Senior Analyst Shilpi Jain commented on these changes by making the following remarks:
“Global smartphone revenues grew 5% YoY in 2024, ending a two-year streak of declines, while the global ASP climbed to a record high of $356, according to the latest research from Counterpoint’s Market Monitor service. Furthermore, global smartphone shipments also registered growth after two years as global macroeconomic conditions and consumer sentiment improved which led to increased upgrades driven by 5G adoption and features like better cameras and faster processors.”
As mentioned above, Apple dominated this category, with its global revenue share increasing from 38 percent to 46 percent, with Samsung securing second place with a 15 percent share, down from 17 percent. The Cupertino firm’s average selling price also jumped from $724 to $903, becoming the highest recorded figure. Samsung, on the other hand, might have retained its second position, but with an average selling price of $299, it is clear that there is a major disparity between the two rivals. However, it is not just sunshine and rainbows in Apple’s yard because the competition continues to get heated.
Vivo had the fastest growing revenue share out of all the companies for 2024 with a 20 percent year-over-year growth, with Xiaomi posting the fastest shipments increase out of any OEM with a 16 percent year-over-year growth. Surprisingly, Huawei was not mentioned in any part of the conversation, likely because its dominance is limited to just one market. The new data also reveals that emerging markets such as the Middle East and Africa, Latin America, India, and Southeast Asia are expected to become key growth drivers in the future.
News Source: Counterpoint Research
About the author: Omar Sohail is a reporter and analyst for Wccftech's mobile section, specializing in the technology and business of the mobile industry. His expertise lies in the intricate hardware supply chain, covering developments in semiconductor manufacturing, chip lithography, and camera sensor technology.
Follow Wccftech on Google to get more of our news coverage in your feeds.
