Worldwide smartphone shipments are forecast to have hit a decade low in 2023, with the industry having declined in size for two years straight, according to Counterpoint Research. But in recent months, sales have begun to rebound as the economy improves, with projections for 3.3% growth in 2024, Counterpoint said.
The recent smartphone sector downturn came amid a stall in meaningful leaps in technology that wowed users, such as a front-facing camera, larger displays or faster networks that let people stream content on their mobile devices. Generative AI offers a shot to bring back some novelty and compel consumers to upgrade their devices, said Tom Kang, a Seoul-based research director at Counterpoint.
Few smartphones command the global demand—and top dollar—of Samsung’s Galaxy S24 devices. Samsung is expected to account for half of the roughly 100 million smartphones equipped with generative AI capabilities to be shipped this year, with Google’s Pixel and major Chinese brands including Xiaomi and Vivo also contributing, according to Counterpoint.
But unlike Samsung, Chinese smartphone brands mainly serve their domestic market, with virtually no presence in the U.S. and some sales in Western Europe and India for their high-end models, Counterpoint said…Read more
