2024 Smartphone Growth: Apple, Samsung, and AI Innovations

The global smartphone market is not only growing; it is also evolving, spurred on by demand for innovation and premium experiences. Average selling price has achieved a new record of $356, representing a 5% increase in revenue in the last year. This growth shows how consumers are changing their buying mood and going for only high-end devices that have superior cameras, fast processors, and AI features.
Shipments increased by 4%, the first annual increase since 2021. This prodigious growth was the direct result of expansions in AI and 5G technology, which have, in turn, made smartphones even smarter and more connected. Well, AI has become the star of everything, be it photography or app features or user experience enhancement.
Apple remains a leader in the market and by the volume of sales. The iPhone 15, which ranked first as last year’s best-selling smartphone, held not only the first position in the sales chart but also the second place for that of its successor- the iPhone 16 Pro Max and late, the iPhone 15 Pro Max. The fifth position was held by the iPhone 16 in tandem with the iPhone 15 Pro, followed by the iPhone 13 and the iPhone 16 ranking sixth, seventh, and tenth respectively.
Samsung has progressed AI-innovations done by Google and Galaxy AI within the Galaxy S24 series. Its profit has grown by 2% due to this. The Galaxy A15 topped the overall Android smartphone sales and the Galaxy A15 5G became the best-selling 5G smartphone.
Chinese brands are shaking up the market. Vivo saw 20% growth in revenue, driven by strong performance in China and India, while Xiaomi‘s shipments grew by 16%, focusing mainly on low-cost 5G models while expanding into Latin America and the Middle East.
TRANSSION(Infinix, TECNO, iTel), for the first time, took the fourth position, and OPPO (including OnePlus) was fifth, as the number of shipments increased 15% and 3%, respectively.
Expect further advances in artificial intelligence as we approach 2025; more brands are attaching AI to their differentiation strategy in features. User experience, battery life, and overall efficiency will be improved with these technologies.
Budget and mid-range 5G smartphones would also feature heavily in breaking into emerging markets, thus, rendering advanced technology viable. With competition intensifying, consumers will benefit from better devices at more affordable prices.
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