2024 may see a 4.0% growth in worldwide smartphone shipments, with AI smartphones potentially benefiting Apple profits; Android expected to grow faster than iOS.

Apple profits may benefit from a 'once-in-a-decade upgrade event' of AI smartphones. Worldwide smartphone shipments are projected to grow 4.0% in 2024 to 1.21 billion units, with Android expected to grow significantly faster at 4.8% compared to 0.7% for iOS. If Apple successfully implements an AI strategy for iPhones, it could accelerate growth for the company. The global smartphone market is predicted to have a compound annual growth rate of 2.3% over the next five years.