With smartphone sales having slumped of late it's now thought that both Apple and an old foe, Huawei, will be the driving force behind a rebound of fortunes across the premium segment.
Amid Apple's struggles to sell iPhones in China of late, it's Huawei that has found itself the biggest winner, taking marketshare from multiple companies including Apple. But it's the two companies that are set to rescue premium smartphone sales as a whole according to a new report.
That report claims that global smartphone shipments in 2024 are expected to increase by 3% to reach 1.2 billion units, with the market thought to have bottomed out.
No way, Huawei?
Sure to be driven by iPhone 15 and iPhone 15 Pro sales ahead of the launch of the iPhone 16 and iPhone 16 Pro, Apple is tipped by Counterpoint Research to be one of only two companies leading the charge this year.
"Apple and Huawei are likely to lead the premium segment’s growth," the report explains. "The steady demand for iPhones, particularly in emerging markets such as India and MEA, will drive Apple’s growth."
As for Huawei, it's "expected to retain its strong presence in China’s smartphone market in 2024," the report adds. "With the release of its 5G Kirin chipset, the brand will continue to see a sturdy demand in China."
There's further good news for phone makers, with Counterpoint believing that things can only get better from here on out. "For the longer term, we expect low-single-digit YoY increases for global smartphone shipments as the market seems to have bottomed out," the research firm says.
