Smartphone market
Development of the smartphone market
There were almost 8.7 billion mobile subscriptions worldwide at the end of 2024, according to the Ericsson Mobility Report published in November 2024. This is a year-on-year increase of more than 2%.
Likewise, the number of smartphone subscriptions continues to grow. At the end of 2024, they accounted for more than 82% of all mobile subscriptions, amounting to almost 7.2 billion – an increase of 3.3% compared to the previous year. According to forecasts in the Ericsson Mobility Report, this number is expected to increase by a further 3% annually over the coming years, reaching 8.3 billion smartphone contracts by 2030.
After three years of decline, global smartphone sales picked up again in 2024, confirming the first signs of recovery that had already emerged in the second half of 2023. New smartphones equipped with generative AI (GenAI) are driving growth in the premium segments, while in other segments, customers are waiting for more affordable products. Competition in the folding smartphone market has also intensified with new devices and new entrants.
Figures from the International Data Corporation (IDC), published in mid-January 2025, show that global smartphone sales increased by 6.4% year-on-year in 2024, reaching 1.24 billion units. An IDC release from November 2024 had already predicted this marked growth after two years of sharp decline. This development was driven by pent-up demand from the last two years and growth in regions with lower smartphone penetration. Despite the strong recovery in 2024, growth is expected to slow again in the coming years, with an annual growth rate of 2.6% forecast between 2023 and 2028. The increasing spread of smartphones, longer device life cycles, and the rapid growth of the refurbished smartphone market are all factors contributing to this slowdown.
Finally, IDC reports that GenAI smartphones are yet to have a significant impact on demand; however, as they become established in the high-end segment, they are expected to move into lower price ranges and could capture around 70% of the smartphone market by 2028.