Huawei’s growth hits double digits; global smartphone market slows.

Key Smartphone Trends for 2024 Forecasted by TechInsights

TechInsights, a market research firm, released a report today predicting a modest single-digit growth for the global smartphone market in 2024. The recovery comes amid a relative easing of the global economic landscape, which is expected to drive the expansion of the smartphone industry’s size, significantly influenced by growth in emerging markets that are not yet saturated.

Smartphone Market Growth

The report also highlights that Huawei could be the big surprise of 2024. The company’s success with the release of 5G chipsets in the domestic market suggests it might also make waves internationally this year. According to the organization’s forecast of global smartphone shipments by region, Huawei is set to see a robust double-digit growth.

Another focal point for the current year in the smartphone realm is generative AI, which is expected to step into the spotlight. In terms of hardware, devices are projected to boast brighter screens with peak luminance reaching or even surpassing 4500 nits and RAM in excess of 20GB.

In addition, this year more smartphone manufacturers are predicted to offer satellite connectivity. However, because satellite communication presents its own set of challenges, expansion into other countries could be complicated and incur substantial additional costs.

The report also suggests a shift away from curved screens, which have become less popular due to issues with accidental touches and high maintenance and repair costs. It appears unlikely that consumers in the mid to high price segment will be willing to pay extra to maintain curved screens.

Will consumers be inclined to pay extra for maintaining curved screen smartphones? It seems improbable.

Additionally, TechInsights does not anticipate any significant smartphone innovation from Apple this year.

As per previous reports from TechInsights, it’s projected that Huawei’s HarmonyOS will overtake Apple’s iOS to become China’s second most popular smartphone operating system by 2024. “Global smartphone sales are expected to rebound by +3% year-over-year in 2024. While Android and Apple’s iOS will continue to dominate globally, Huawei’s HarmonyOS is expected to eat into their market share in China.”

The smartphone industry is gearing up for another interesting year, with new trends on the horizon that could shift the status quo and bring in unexpected players to the forefront of the market. TechInsights’ insights offer a glimpse into the future of mobile technology and consumer preferences.

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