IDC: 2024 Shipments to Grow by 2.8%, Foldables Rising Fast

Chinese Mobile News

Recently, IDC released a report on the global smartphone market for 2024. According to the report, IDC believes that 2024 will be a year of recovery and growth for the smartphone market. It is projected that smartphone shipments will reach 1.2 billion units in 2024, with a year-on-year growth of 2.8%, and will maintain single-digit growth until 2028.

IDC Report

IDC considers the replacement cycle of devices and the continuously growing demand in emerging markets as key drivers for the overall market recovery. Recent technological developments have brought new vitality to the smartphone industry. Foldable smartphones, for example, are expected to grow by 37% year-on-year, with shipments reaching 25 million units in 2024. Additionally, Artificial Intelligence (AI) has rapidly become a crucial component in smartphones, driving users to upgrade their devices.

IDC analysts suggest that consumers are willing to pay more for premium smartphones, and the innovation in foldable screen phones and on-device AI will further fuel this trend. By 2024, shipments of next-generation AI smartphones are expected to reach 170 million units, accounting for nearly 15% of the total smartphone market and even surpassing AI PCs. With continuous efforts from industry players, the next generation of AI smartphones is set to experience rapid growth post-2024.

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