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A Counterpoint Research report predicts a 3% increase in global smartphone shipments to 1.2 billion units in 2024, driven by emerging markets like India and the Middle East. Budget phones ($150-$249) are expected to lead growth, rebounding by 11%, while the premium segment ($600-$799) is set for a 17% rise.
Apple is the only player in the top three to show positive growth of 3.7% year-over-year, but has also bagged the first rank annually for the first time ever despite facing increased regulatory challenges and renewed competition in its largest market, China, from Huawei, said Popal.
Apple has emerged as world leader in smartphone industry with 20.1% market share, surpassing Samsung. Despite decline in global smartphone shipments, Apple exhibits positive growth and secures number one spot. Increased regulatory challenges and competition from Huawei in China failed to hinder Apple s success.