The global smartphone market is on the brink of experiencing a resurgence, with projections indicating a 3% increase in shipments, reaching approximately 1.2 billion units by 2024.

This anticipated growth is largely attributed to the burgeoning demand in emerging markets, underscoring their critical role in driving the global smartphone industry forward.

Analysis by Counterpoint Research highlights a significant expectation for the budget and premium segments to catalyze this upward trajectory.

Specifically, smartphones priced within the US$150 to US$249 range are forecasted to witness substantial demand, mirroring broader economic shifts and consumer preferences.

Simultaneously, the premium sector, with devices priced from US$600 to US$799, is also poised to contribute significantly to the expansion of the market.

The synergy between these two segments underscores a diverse consumer base, eagerly embracing technological advancements across different price points.

Emerging markets are thus at the forefront of shaping the future landscape of the global smartphone industry, with their expansive consumer base and increasing purchasing power.