The global smartphone market saw a recovery in 2024, a new report from market research firm Counterpoint shows.

According to the report, sales of the global smartphone market grew 4% year-on-year last year, ushering in a recovery after two consecutive years of decline, ending a decade-low point set in 2023.

As the smartphone market recovers, Samsung continues to lead the market with a 19% market share, with strong demand for its S24 series and A series product lines.

The S24 series, Samsung's first phone positioned as an AI device, outperformed its predecessors and was particularly popular in Western Europe and the U.S.

Apple came in second with 18% market share. Apple's iPhone 16 series received a mixed response, partly due to the lack of availability of Apple Intelligence at launch.

However, the report shows that Apple continues to grow strongly in non-core markets such as Latin America, Africa and the rest of Asia-Pacific.

China's Xiaomi has been the fastest growing of the top five mobile phone brands over the past year, capturing 14% of the market thanks to its portfolio realignment, premium brand push and aggressive expansion activities.

Additionally, OPPO lost market share but remained in fourth place, while its sister brand vivo came in fifth thanks to its strong performance in India and China.

It is important to note that the top five is essentially the same as the 2023 list, but lost some share due to fierce competition with Huawei, Honor and Motorola, which are the fastest growing OEM brands in the top ten.

Compared to previous years, the biggest difference of smartphones in 2024 is the introduction of generative AI technology.

While smartphones supporting this technology are currently focused on the high-end market, Counterpoint expects AI to become the norm for end devices as well.

"By 2028, we expect nine out of ten smartphones priced above $250 to be GenAI-capable," Counterpoint said.