Global smartphone shipments are expected to rebound three per cent this year as easing inflation aids a demand recovery in emerging markets and the integration of generative AI attracts buyers to premium devices, a report by Counterpoint Research said on Thursday.
Global shipments had declined more than four per cent last year, earlier data from the research firm showed, as consumers tightened their purse strings in an uncertain economy.
B.C. man makes history as 1st Canadian to finish, win ‘insane’ Barkley Marathons
The premium segment, with phones priced between US$600 and US$799, is expected to grow 17 per cent. The introduction of much-coveted genAI technology and the popularity of foldables will stimulate demand for this segment, the report said.
Apple and Chinese rival Huawei are likely to emerge as winners in the premium market, it said.
Steady demand for iPhones, particularly in emerging markets, is set to benefit Apple, while Huawei is expected to retain its strong presence in China, especially with the release of its 5G Kirin chipset, the report stated.
Competition from Huawei led to a 24 per cent decline in iPhone sales in China in the first six weeks of 2024, Counterpoint had estimated earlier.
Separately, Apple is in talks to build Google’s Gemini AI engine into the iPhone, according to media reports from earlier in March.
More on Science and Tech
Source: