Mobile Phone Market Trends in 2024
The Apple company has finally dethroned Samsung and claimed the global number one spot by significantly lowering the prices of its iPhones by several thousand. It’s highly likely that Apple will maintain this top position in 2024. The lowest price for an iPhone 15 is now at 4500, and the upcoming 16 series is anticipated to be in high demand due to its significant camera upgrades.
This shift puts immense pressure on Samsung, which not only has to compete with Apple for users but also faces strong competition from domestic smartphone brands. For example, OPPO, which has recently emerged victorious in a nearly three-year legal battle against Nokia, has signed a cross-licensing agreement, signaling its readiness to expand its smartphone sales in Europe and the United States. This could lead to a surge in market share for OPPO this year.
OPPO has been steadily making progress in recent years with its numerous popular models such as the Reno11 and Find X7 series. In 2023, OPPO secured the third position in the domestic market and the fourth position globally. It is anticipated that their strategic and steady growth will lead to even higher rankings in the future.