Global Smartphone Shipments Forecasted at 1.2 Billion Units... 3% Increase Year-on-Year

On the 25th (local time), one day before the opening of the world's largest mobile telecommunications exhibition, 'Mobile World Congress (MWC) 2024,' citizens are lining up at the Samsung Electronics Galaxy Experience Zone set up near Catalonia Square in Barcelona, Spain. Photo by Joint Press Corps

The global smartphone market is expected to record shipments exceeding 1.2 billion units, driven by solid growth.

According to market research firm Counterpoint Research on the 5th, global smartphone shipments this year are forecasted to reach 1.2 billion units, a 3% increase compared to last year.

The premium smartphone market priced between $600 and $799 (approximately 810,000 to 1,070,000 KRW) is expected to grow by 17% year-on-year.

Counterpoint Research attributed this to the introduction of artificial intelligence (AI) in smartphones and the launch of affordable foldable smartphones.

In particular, it analyzed that Samsung Electronics, which holds the lead in the AI smartphone market, has capitalized on this trend, while Apple is targeting the market through expanding iPhone production bases in India and opening Apple Stores.

Additionally, thanks to strong performances by companies such as Huawei, the Chinese premium smartphone market is expected to grow by 46% year-on-year.

The low-end smartphone market is also projected to grow by 11%, centered on emerging markets such as the Middle East, Latin America, and India, while the ultra-premium market is expected to grow by 3%, and the mid-range market by 2%.