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Global smartphone shipments are expected to grow within a range of 4-8% annually from 2024-2028, representing a compounded annual growth rate (CAGR) of 6%.
Abstract
Global smartphone shipments will likely decline 6.6% year-on-year to 1.084 billion units in 2023, based on DIGITIMES Research's analyses of supply chain information, regional market conditions, and geopolitical trends.
High inflation and appreciation of the US currency have led to a decline in purchasing power in the US, Europe and emerging markets. Additionally, the Chinese market is lackluster due to unfavorable economic prospects and low consumer confidence. These factors have led to a decline in the global smartphone market in 2023.
The global top-9 brands, as those of 2023, will likely be able to ship over 30 million smartphones each in 2024. These brands ranked in order are Samsung, Apple, Oppo, Xiaomi, Vivo, Transsion, Honor, Huawei, and Lenovo. The nine brands collectively will hold a 92.8% market share globally.
Table of contents
Chart 2: Shipment to China and non-China markets, 2022-2024 (m units)
Chart 3: Top-9 smartphone vendors' shipments, 2023-2024 (m units)
Chart 4: Global shipment share of Huawei, Apple, OVXH, 2019-2024
Chart 5: Shipment share of Huawei, Apple, OVXH in China, 2019-2024
Chart 6: Shipments by 5G and non-5G smartphones, 2023-2028 (m units)
Chart 7: China and non-China markets 5G smartphone shipments, 2022-2024 (m units)
Chart 8: Shipments by foldable display feature, 2023-2028 (m units)
Price: NT$39,000 (approx. US$1,300)
