Xiaomi beats Samsung and Apple to become fastest-growing smartphone maker in 2024
The year 2024 has been pretty great for phone makers, especially when considering that 2023 had the lowest smartphone sales in a decade. To be specific, according to Counterpoint Research, the market grew by 4% in 2024, and the report shared by the firm also highlights Xiaomi's win over Samsung and Apple in 2024.
Per the report, Xiaomi has secured the title of the fastest-growing smartphone maker in 2024. While the company's year-on-year (YoY) global share has seen a growth of 1%, it has surpassed Samsung and Apple, both of which have seen a dip in the market share when compared to 2023.
What's rather interesting is that Xiaomi has seen such success without having much of a presence in the United States, which is one of the largest markets. This growth also highlights that Xiaomi's aggressive marketing plans catered towards markets such as Asia, Africa, and Europe are working.
Counterpoint Research notes that Xiaomi's push into the premium segment and focus on innovative marketing campaigns have also contributed to this growth. As for Apple and Samsung, even without seeing any growth in 2024, both of them still remain in the leading positions in the global smartphone market.
Among the two, Samsung had the largest global market share in 2024, coming in with 19% of the total. Apple, on the other hand, had 18% of the market share. Both of them, however, dropped by 1% if you consider year-on-year growth.
Besides sharing the report on sell-through market share throughout 2022 and 2024, Counterpoint Research has shed some light on the upcoming mid-range phones. The firm believes generative AI will become a norm for these devices, predicting that 9 out of 10 phones in the $250+ range will come with gen AI-ready capable hardware by 2028.
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