Analysis: Samsung Maintained the Largest Smartphone Vendor in 2024
Analyze Samsung’s Q4 2024 smartphone performance. TechInsights' report covers shipment declines, ASP growth, revenue impact, and how Samsung maintained its position as the top global vendor.
Samsung’s global shipments in Q4 2024 declined by 3% year-over-year (YoY) to 51.6 million units, due to slower-than-expected recovery of demand and intensified competition in this industry. Based on the upselling strategy, Samsung’s wholesale average selling price (ASP) increased YoY for fourteen consecutive quarters to KRW 363.7K (USD 260) and boosted Samsung’s smartphone business revenue to KRW 18.8T (USD 13.4B). Despite a double-digit drop in operating profits due to component price hikes, Samsung maintained a higher margin than Android competitors this quarter. Samsung in total shipped 223.1 million units of smartphones worldwide in 2024 full year, slightly ahead of Apple (221.0M) remaining the largest smartphone vendor, with 18% market share, down two percentage points in 2023.
