Apple's iPhone 15 was the world's top-selling smartphone in 2024, outclassing competition that is largely focused on capitalising on the steady rise of generative artificial intelligence in mobile devices, a new report has shown.
While the iPhone 15 does not support Apple Intelligence – which was rolled out in September – half of the top 10 most popular smartphones are generative AI-capable, signalling a shift towards the game-changing technology, Counterpoint Research said in its annual report on Monday. The Cupertino, California company has maintained its dominance since Counterpoint started tracking global sales data in 2018.
It claimed six out of the top 10 spots in terms of sales last year, led by its entry-level flagship device and four that support generative AI. Those four include the top-end iPhone 15 Pro Max and iPhone 15 Pro, which ranked second and third, respectively. The iPhone 16 Pro Max and iPhone 16 Pro, which are part of Apple's current line-up, came in at fifth and ninth, respectively.
The iPhone 14, which topped Counterpoint's list last year, remained popular, ranking eighth. The iPhone 15 was helped by healthy sales in the US and China, which accounted for nearly half of the total, while the increased consumer preference for the iPhone 15 Pro models helped it account for more than half of all annual iPhone sales for the first time, Hong Kong's Counterpoint said.
"Attractive financing plans and trade-in offers on iPhones contributed to the premiumisation trend and made the iPhone more accessible to a wider audience, particularly in emerging markets. This trend led to more consumers opting for the latest iPhone," senior analyst Karn Chauhan said.
Meanwhile, South Korea's Samsung was anchored by its mid-level offerings, led by the Galaxy A15 5G at fourth, Galaxy A15 4G at sixth and Galaxy A05 at 10th. Samsung's only premium entry on the list is the seventh-ranked Galaxy S24 Ultra – it is notable that it is the first Galaxy S series device to make it on to Counterpoint's annual top 10 since 2018.
This can be attributed to the Galaxy S24 series being the first smartphones to have mainstream generative artificial intelligence capabilities, which Samsung is betting on to drive future growth, said Counterpoint research analyst Harshit Rastogi. "Samsung's emphasis on these innovative features has resulted in strong market performance and a first-mover advantage," he said.
The company updated its flagship line-up with the launch of the Galaxy S25 series last month, foregoing aesthetic changes to concentrate on boosting its Galaxy AI platform. "Notable features like chat/note assist, Circle to Search and live translation have gained traction and received positive reviews," Mr Rastogi added.
Smartphones remain the most popular and important consumer electronic devices. They have become an essential tool for communications, business, education and other daily activities.
With the rise of generative AI, manufacturers are scrambling to incorporate the latest technologies to entice a wider consumer base. Apple and Samsung are already locking horns in this respect, raising the stakes with their partnerships with ChatGPT maker OpenAI and Google, respectively.
"The adoption of smartphones with generative AI capabilities is forecast to rise, as OEMs [original equipment manufacturers] are highlighting generative AI as a key differentiator in their high-end offerings ... we expect an increase in the number of generative AI-enabled smartphones in 2025," Counterpoint said.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%204-cylinder%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20101hp%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20135Nm%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%20Six-speed%20auto%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh79%2C900%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Awar Qalb
Director: Jamal Salem
Starring: Abdulla Zaid, Joma Ali, Neven Madi and Khadija Sleiman
Two stars
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
Mohammed bin Zayed Majlis
