China smartphone market grows 10%

The global smartphone market grew by 7% to 1.22 billion units in 2024, marking a rebound after two consecutive years of decline, with emerging markets highlighted as the industry’s key growth driver.

The Indonesian smartphone market grew 20% year-on-year in Q2 boosted by the vendor promotion during the holiday season.

Xiaomi reportedly revealed plans to invest CNY50 billion (US$6.9 billion) over the next 10 years to develop its own mobile processors, and is set to unveil such chips this week.