Global smartphone sales are expected to recover in 2024, with a projected growth of 6.2% and an estimated 1.24 billion units sold. This rebound comes after two years of decline.

However, Apple Inc. is predicted to experience only a slight increase of 0.4% in iPhone volumes. This highlights the competitive pressure Apple faces from Android-based rivals, particularly in China and emerging markets.

Despite the slower growth in unit sales, Apple remains dominant in terms of profitability. The average selling price of Apple devices exceeds $1,000, while Android competitors have an average selling price of around $295.

The recovery in the smartphone market is mainly driven by pent-up demand and increased smartphone penetration in lower-market regions. In these regions, more affordable Android devices have gained popularity.

The introduction of artificial intelligence features by major players like Apple, Samsung, and Alphabet Inc.'s Google has not significantly impacted consumer interest, according to market tracker IDC.

The study suggests that although Apple may face challenges in the current year, it is expected to perform better in the following year as market dynamics evolve.