2024 was a good year for phones, as Canalys reports a 7% growth after two years of being in decline. While Apple and Samsung maintain the top 1 and 2 spots respectively, Xiaomi and Transsion are among the biggest winners in the top 5 for 2024, with both attaining a year-on-year growth of 15%.
Outside of the top 5, HUAWEI is slowly bouncing back with a sizeable 36% year-on-year growth, which can be credited to the release of the Mate 70 series in China and the Pura 70 series globally.
“Demand has been soaring in the mass-market segment, driven by a refresh cycle of pandemic-bought smartphones alongside channel replenishments. Several vendors have capitalized on this trend, targeting the open-market channel and leading with strong value-for-money-focused products,” Canalys Analyst Runar Bjørhovde said.
Canalys adds that Xiaomi is the biggest driver of the phone industry’s growth in 2024, which was driven by a strong momentum in China and continued expansion in emerging markets. Xiaomi’s major contribution also includes sub-brands POCO and Redmi, both having compelling, value-for-money offerings.
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On the other hand, Transsion moved to 4th place in 2024, and this can be credited to several compelling offerings from Infinix and TECNO.
