Counterpoint: Global smartphone revenue share will increase by 5% in 2024, with Apple accounting for 46% and ranking first

Just hours after Apple reported its best quarter ever in its Q1 2025 financial report, a new set of data revealed the global smartphone revenue share in 2024. As you might guess, the tech giant secured 46% of the revenue share, ranking first, while also generating the highest annual average selling price for the year. However, its dominance is being threatened by Chinese smartphone manufacturers, each of which is fighting tooth and nail to secure those profits.

Overall, as macroeconomic conditions and consumer sentiment improve, global smartphone revenue share will increase by 5% year-on-year in 2024, ending a two-year decline.

The latest data released by Counterpoint Research shows that the global smartphone revenue share is showing a positive trend in 2024, and the average selling price indicator has jumped to $356 after two consecutive years of decline. Senior analyst Shilpi Jain made the following comments on these changes.

“According to the latest research from Counterpoint’s market monitoring service, global smartphone revenue is expected to grow 5% year-on-year in 2024, ending two consecutive years of decline, while the global average selling price climbs to a record high of US$356. In addition, global smartphone shipments also grew after a two-year gap, as global macroeconomic conditions and consumer sentiment improved, driving the adoption of 5G and upgrades such as better cameras and faster processors.”

As mentioned above, Apple dominated the category, growing its global revenue share from 38% to 46%, while Samsung fell from 17% to 15%, taking second place. Apple’s average selling price also jumped from $724 to $903, the highest figure ever recorded. Samsung, on the other hand, may have retained its second position, but with an average selling price of $299, it’s clear that there’s a huge gap between the two rivals. However, it’s not all sunshine and rainbows in Apple’s yard, as the competition continues to heat up.

In 2024, among all companies, vivo will have the fastest revenue share growth, up 20% year-on-year; among all OEMs, Xiaomi will have the fastest shipment growth, up 16% year-on-year. Surprisingly, Huawei was not mentioned in any of the conversations, which may be because Huawei's dominance is limited to a single market, China. The new data also shows that emerging markets such as the Middle East and Africa, Latin America, India, and Southeast Asia are expected to become major growth drivers in the future.

From Chinese Industry Information Station