Canalys:2024 annual global smartphone shipments are expected to resume growth, expected to rise 4% to 1.17 billion units

CTOnews.com, November 23, Canalys released a forecast on platform X today that global smartphone shipments are expected to resume growth in 2024:

Global smartphone shipments are estimated at 1.13 billion in 2023, down 5 per cent from 2022.

Global smartphone shipments are expected to be 1.17 billion in 2024, an increase of 4 per cent compared with 2023.

Canalys claims that consumers are now willing to spend more money on smartphones, which now sell for an average of $440 (CTOnews.com Note: currently about 3142 yuan).

Emerging markets in Asia and Africa will be at the center of the growth of the mobile phone industry in 2024. 33% of all new smartphones produced in 2024 will be shipped to relevant regions, including markets such as India, South Korea, Vietnam, Indonesia and Malaysia. Growing consumer confidence and improved macroeconomic conditions will stabilize smartphone shipments.

With the exception of North America, Canalys forecasts that all key global markets will grow in 2024, the Asia-Pacific region, the Middle East and Africa are expected to grow by 6% year-on-year in 2024, and Europe is expected to grow at an annual rate of 7%. Consumer demand for mobile phones will continue to rise in the next few years, eventually reaching 125 million shipments in 2027.