Apple Secures 46% of Global Smartphone Revenue in 2024, Achieving Record Average Selling Price as Chinese OEMs Gain Market Share

Just hours after Apple revealed its record-breaking Q1 2025 financial results, new insights into the global smartphone revenue distribution for 2024 have emerged. As anticipated, Apple secured the top position, capturing an impressive 46% of total revenues and achieving the highest annual average selling price (ASP) for the year. However, this dominance is facing challenges from Chinese smartphone manufacturers, each vying fiercely to claim a share of the lucrative profits.

Positive Growth Signals in Global Smartphone Revenue Share for 2024

The latest analysis from Counterpoint Research indicates a 5% year-over-year increase in global smartphone revenue share for 2024, marking the end of a two-year decline. This uptick is bolstered by improved macroeconomic conditions and a shift in consumer sentiment, leading to renewed interest in smartphone upgrades.

According to Shilpi Jain, a Senior Analyst at Counterpoint, the data highlights a notable recovery:

“Global smartphone revenues grew 5% YoY in 2024, ending a two-year streak of declines, while the global ASP climbed to a record high of $356, according to the latest research from Counterpoint’s Market Monitor service. Furthermore, global smartphone shipments also registered growth after two years as global macroeconomic conditions and consumer sentiment improved which led to increased upgrades driven by 5G adoption and features like better cameras and faster processors.”

Global smartphone revenue share for 2024

Market Dynamics: Apple vs. Competitors

Apple’s dominance is evident, with its revenue share climbing from 38% to 46%.Samsung follows in second place with a 15% share, slightly down from 17%.The average selling price for Apple soared from $724 to an unprecedented $903, setting a new record, while Samsung’s ASP stood at just $299, highlighting the significant gap between these two competitors. Nevertheless, Apple’s market triumphs do not obscure the intense competition that lies ahead.

Emerging Players and Future Market Trends

Among the rising competitors, Vivo showcased the most rapid revenue growth at 20% year-over-year, while Xiaomi experienced the highest increase in shipments, with a remarkable 16% growth rate. Surprisingly, Huawei’s absence from the conversation indicates its waning influence, confined to a limited market. The data also suggests that emerging markets—including regions like the Middle East, Africa, Latin America, India, and Southeast Asia—are projected to become significant contributors to smartphone growth in the coming years.

For those seeking further insights into these market dynamics, refer to the full analysis from Counterpoint Research.

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