ANN/THE STAR – Smartphone shipments grew in 2024, with a record average selling price of USD356. Consumers are not hesitating to pay the price for access to the latest high-performance features.
According to Counterpoint Research, the average selling price of a smartphone has never been so high. In 2024, it rose to USD356, a one per cent increase on the previous year. This increase reflects a trend towards the premiumisation of the market, with consumers increasingly inclined to invest in top-of-the-range devices, meeting their needs better and running longer. Unsurprisingly, Apple boasts the highest average selling price, at over USD900 – another new record.
For the rest, the global smartphone market returned to growth in 2024 after two years of decline. This growth is attributed to improved macroeconomic conditions and renewed consumer confidence, favoring upgrades to devices with 5G and advanced features such as better cameras and faster processors.
In terms of sales, Samsung and Apple still dominate the market, with a market share of 18 per cent each, ahead of China’s Xiaomi (14 per cent), Oppo and Vivo (eight per cent).
