The smartphone market is picking up, with AI and folding screen products leading the way

As the time comes to August 30, 2024, more than half of this year has passed, and relevant predictions and analyzes have emerged regarding this year’s overall smartphone market performance. It is reported that the latest forecast from the research organization Counterpoint Research shows that after two consecutive years of decline, global smartphone shipments will increase by 5% year-on-year in 2024, reaching 1.23 billion units. This forecast is revised up from the previous year-on-year growth of less than 4% as macroeconomic conditions and consumer confidence continue to improve, with this positive momentum set to continue in the coming years.

1.Data show that global smartphone shipments will drop 3.2% year-on-year in 2023 to 1.17 billion units.
2.The fourth quarter of 2023 grew 8.5% year-on-year, with shipments of 326.1 million units, beating the 7.3% growth forecast. (Data source: IDC)

3.Since the fourth quarter of 2023, the global smartphone market has begun to recover.

4.This year’s global smartphone market will continue its growth trend and bottom out.

As for specific performance development, this report also analyzes the existing market conditions:

1. In the long term, it is expected that there will be more of new smartphone users entering the market, leading to steady growth in overall numbers.
2. This is mainly driven by the growth of emerging markets. Key mature markets will also play an important role in long-term revenue growth with the increasing popularity of high-value smartphones.

   

   At the same time, smartphone products equipped with generative AI will also catalyze some additional growth this year, and as users learn more about generative AI devices, smartphone manufacturers will increasingly The more generative AI capabilities are introduced.

The report mentions that the share of smartphones supporting generative AI is expected to increase from less than one-fifth in 2024 to more than half in 2028.

The much-anticipated Apple AI feature Apple Intelligence will be widely installed in the upcoming iPhone 16 series models, which will promote the development of generative AI devices in the entire smartphone market.

This may also create an opportunity for Apple to top the list of annual shipments as early as 2025.

Foldable device market segment

1. Growth trend

Folding screen devices are the smartphone market One of the segments that continues to grow.

2. Key Brands

Brands such as Huawei, Honor, and Motorola are playing a leading role in driving the growth of the foldable smartphone market.

3. Apple’s future plans

Apple is expected to enter the field of foldable devices in 2027, which will also bring new growth to the future smartphone market .

1. Apple has completed the research and development of folding screen iPhone.

2. Plans to launch two foldable devices: foldable iPhone and foldable iPad.
3. It was previously rumored that Apple would launch a foldable iPad first, but the latest news shows that the plan has been adjusted and the iPhone may become the first foldable screen product.

   

   Taken together, the global smartphone market is picking up, and high-end niche segments such as generative AI phones and foldable screen phones are expected to continue to lead the global smartphone market in the future.

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