Global smartphone market to increase by 5% in Q3 2024

According to Canalys’ latest research, global smartphone shipments increased by 5% year-on-year in Q3 2024, marking the fourth consecutive quarter of growth. Current growth is primarily driven by early replacement cycles in North America, China and Europe, as well as strong demand in emerging markets.

Samsung shipped 18% of smartphones in the third quarter, narrowly maintaining pole position over Apple, whose iPhone accounted for 18% of shipments. Xiaomi maintained its position as the third largest smartphone vendor with a market share of 14%. OPPO regained fourth place in the ranking table for the first time this year with a market share of 9%, supported by strong growth in India and Latin America. Vivo, which was in the top five, increased its shipments by double digits and accounted for 9% of the market.

Canalys analyst Runar Bjørhovde said: “Apple achieved its best third quarter sales ever and has never been closer to the top of the global smartphone market in a third quarter than it is now.” “Continued strong demand for the iPhone 15 series and Apple’s legacy models played a key role in third quarter results, with continued strong demand for premium devices intersecting with continued update cycles for devices purchased during the pandemic. The shift in markets has benefited Apple, especially in the company’s strongholds such as North America and Europe, where Apple has diversified its products and helped shorten lead times. While modest, the iPhone 16 helps Apple maintain a strong finish into 2024 and build momentum for the first half of 2025, especially as Apple Intelligence expands into new markets and supports additional languages. It is expected that it will be useful.”

Canalys analyst Le Xuan Chiew commented, “The gap between the top five vendors is narrowing, making the competitive environment more intense.” “Vendors are ramping up their holiday shopping with solid momentum and cautious optimism, aiming to attract consumers who have been putting off upgrading their devices in anticipation of sales during major events like 11.11 and Black Friday. However, the importance of effective resource planning cannot be overstated.Even though the market environment is improving, vendors are struggling with demand generation and the EU’s Ecodesign Directive. Demand remains fragile as we face the global challenge of increasing regulatory hurdles for effective supply chain management, maintaining healthy inventory levels, and optimizing the allocation of sales and marketing funds. , has become even more important for market leadership.”

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