The smartphone market has contracted six times a year over the past seven years, but 2024 will be the year the market returns to growth, IDC said.
Smartphone shipments are expected to reach 1.2 billion units in 2024, up 2.8% year-over-year, followed by low-single-digit growth through 2028.
While overall trading volumes remain below pre-pandemic levels, IDC believes the market has corrected itself and is bottoming out.
Foldable smartphone shipments are expected to grow 37%, reaching 25 million units shipped by 2024.
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