Global smartphone shipments are expected to return to growth this year, up 3%, as slowing inflation has helped rebound demand in emerging markets and the integration of generative artificial intelligence lures buyers of premium devices, a report shows. report published on Thursday by Counterpoint Research, reports Reuters, cited by Agerpres.
Huawei stands to gain after the launch of 5G Kirin processors. PHOTO Shutterstock
Last year, global smartphone shipments fell by more than 4% as consumers cut back on spending amid economic uncertainty.
In 2024, however, emerging markets such as India, the Middle East and Africa are expected to be important growth drivers for the smartphone market, especially in the segment of cheaper devices.
The smartphone segment is expected to grow by 11% in 2024, after contracting in 2023.
According to the estimates of analysts from Counterpoint, the same segment of smartphones with prices between 150 and 249 dollars will benefit from increased demand in the Caribbean and Latin America regions, from the slowdown of inflation in regions such as Africa, as well as from the stabilization of local currencies . Also, the intensification of competition between Chinese manufacturers such as Oppo, Vivo and Xiaomi, together with the return of demand for IT devices, helped the growth of the segment of cheap smartphones.
Apple and Chinese rival Huawei are expected to be the winners in the premium market
Regarding the segment of premium smartphones, the one with prices between 600 and 799 dollars, it is expected to grow by 17%. The introduction of generative Artificial Intelligence technology and the popularity of foldable devices will stimulate demand in this segment, say Counterpoint analysts.
According to analysts, Apple and Chinese rival Huawei are expected to be the winners in the premium market. While Apple would take advantage of the constant demand for iPhones, especially in emerging markets, the Huawei group would maintain its solid presence in the Chinese market, especially with the launch of 5G Kirin processors.
Globally, global shipments of smartphones should increase this year by 3%, up to 1.2 billion units.
