The past two years have not been good for the smartphone industry as a whole since we have seen the entire industry going through some really bad sales. However, according to a new report, the sales have started to improve, and by the end of 2024, they could actually grow and fully recover. Of course, we cannot say for sure, but considering how next year will be full of some really amazing devices, including the Galaxy S24 series as well as the iPhone 16 series, it is safe to say that we might see a full recovery.

2024 might be the year when we see smartphone sales finally getting close to how it used to be

At the moment, it is expected that the global smartphone market could cross 1.12 billion devices shipped this year. This is a 5% drop compared to last year when the sales were at 1.19 billion units shipped. However, in 2024, we could see an improvement, with the units shipped reaching 1.17 billion. This is still not as good as 2022, but we are slowly seeing growth, and this could help the market come back to its full form.

Now, there are several reasons why the smartphone market has suffered so much in two years. The world economy has gone through a severe downturn, with expenses and costs rising across the board. One cannot claim that things have fully recovered at this point, but they are slowly on the way, and we can expect them to get better as we move forward. Hopefully, by next year, we will see an even more improvement than the analysis forecasts.

2024 is going to prove to be a pivotal year for the smartphone industry. We are expecting several top-tier smartphones as well as mid-range smartphones from global competitors, along with some stiff competition from the Chinese market, which could help the shipments improve even further. On top of that, a lot of phones released next year will also bring on-device generative AI with them, which could be another aspect that would revolutionize the market and help grow shipments even further.

News Source: Canalys