Increased sales of lower-tier devices in emerging markets were predicted to help drive a modest rebound in global smartphone shipments in 2024, the latest report from Counterpoint Research showed.
The analyst house stated shipments were estimated to reach 1.2 billion units, up 3 per cent year-on-year.
Across 2024 the budget-friendly smartphone segment is tipped to heal from a noticeable decline, while sales of premium handsets are expected to maintain a steady growth trajectory.
The analyst house noted the budget segment, which covers smartphones priced from $150 to $249, is expected to rebound 11 per cent, with the report naming India, Middle East and Africa, the Caribbean and Latin America as growth drivers.
“As inflationary pressures have eased considerably across Africa, and local currencies have stabilised in many countries, the consumer purchasing power has recovered”, the report read.
Counterpoint Research highlighted demand for budget handsets in some emerging markets was due to “steady investments” by Chinese players Xiaomi, Vivo, Oppo and Transsion Group increasing market competition.
The premium segment, covering handsets ranging from $600 to $799, is estimated to rise 17 per cent year-on-year. The company pointed to “older flagship models” as the main driver here, with flip handsets “also enjoying strong year-on-year growth”.
Apple is forecast to lead this segment with emerging markets like India and Middle East and Africa driving iPhone growth. Samsung will see “slight growth” in various regions.
Further, the research outfit expected generative AI (GenAI) smartphones and foldables to boost demand in the ultra-premium segment, “especially towards the latter half of the year”.
The post Smartphone shipments tipped for rebound appeared first on Mobile World Live.
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