#phones in 2024

Global smartphone shipments are poised to rebound by 3% in 2024, as per a report by Counterpoint Research, fueled by a resurgence in demand in emerging markets and the integration of generative AI in premium devices. However, the easing of inflation is expected to drive a recovery, particularly in regions like India, the Middle East, and Africa, which are anticipated to be key growth catalysts, especially for budget smartphones. Phones priced between USD 150 and USD 249 are likely to benefit from improved economic conditions and currency stabilization in areas such as Africa. The adoption of advanced generative AI technology and the growing popularity of foldable phones are driving demand in this category. Apple and Huawei are anticipated to emerge as key players in the premium market, with Apple expected to leverage steady demand for iPhones in emerging markets. But behind the scenes, a few key players had controlled the chips for “all the other” mobile devices; the affordable phones, non-flagships, entry-level, billions of users - with UNISOC being an integral competitor. That bet paid off big time, with around 14% of all smartphones shipped today equipped with these processors. This did not pan out so well for Spreadtrum’s reputation, which had been tarnished by short-lived obsolete phones, often badly-made clones of real devices. Read more in our articles including "Smartphone markets set to bounce back in 2024" and "BPI partners with Robinsons Retail for barcode cash deposits in stores".