Apple’s iPhone 15 led global sales in 2024, with Pro models close behind, as premium device demand drove a revenue rebound.
According to Counterpoint Research, global smartphone revenue grew 5% year-over-year, with the average selling price (ASP) reaching an all-time high of $356. Despite economic challenges in previous years, improved consumer sentiment and demand for premium smartphones fueled the turnaround.
Global smartphone shipments also rose by 4%, marking the first annual increase since 2021. Analysts attribute this to expanding 5G adoption, better cameras, and faster processors, making upgrades more appealing.
Apple dominated the best-sellers list, with the iPhone 15 taking the top spot. The iPhone 15 Pro Max and iPhone 15 Pro followed closely.
Global smartphone sales. Image credit: Counterpoint
Meanwhile, the iPhone 16 Pro series outperformed other iPhone 16 models in its first full quarter on the market, showing continued consumer preference for Apple’s higher-end devices.
The early dominance of Pro models reflects the buying habits of Apple’s most dedicated users — tech enthusiasts, early adopters, and those who upgrade yearly. These buyers rush to get the latest Pro models as soon as they launch in September, boosting sales through the holiday season.
By the time the initial demand subsides, typically after December, mainstream consumers start picking up the standard iPhone models. These buyers tend to be more budget-conscious or less concerned with having the latest features, leading to a shift in demand from Pro to non-Pro models.
Apple and Samsung lead, but shifts emerge
Despite a 3% decline in iPhone shipments, Apple’s revenue remained strong as its Average Selling Price (ASP) surpassed $900 for the first time. The company also expanded its presence in emerging markets, with iPhone shipments in Latin America surging 44% year-over-year.
Samsung retained its position as the world’s top smartphone brand by shipments. While its overall volume slipped, ASP growth helped revenue climb 2%.
Top shipments. Image credit: Counterpoint
The Galaxy S24 series outperformed its predecessor, benefiting from the brand’s push into AI-driven smartphone features.
Among other brands, Vivo recorded the fastest revenue growth at 20%, driven by strong performance in China and India. Xiaomi saw the highest shipment increase at 16%, thanks to its focus on affordable 5G devices and aggressive expansion in Latin America and the Middle East.
AI smartphones and emerging markets shape 2025 outlook
The smartphone industry is expected to maintain moderate growth in 2025, with AI-powered devices becoming a major differentiator. Samsung’s Galaxy S24 Ultra was the first S-series model to crack the global top 10 sales list since 2018, highlighting the appeal of AI-driven features.
Meanwhile, mid-range and entry-level 5G smartphones are poised to expand their market share, especially in regions like India, Southeast Asia, and Africa. As competition intensifies, brands will focus on integrating AI features, camera improvements, and enhanced battery life to attract buyers.
The global smartphone market is maturing, but 2024 showed that demand for innovation — especially at the high end — remains strong. If manufacturers continue to push AI and premium experiences, revenue growth could outpace shipments again in the coming years.
