As demand grows in emerging markets and the regions prepare for festive and holiday sales, smartphone shipments surged 5% YoY worldwide in Q3 2024, led by Samsung and Apple.
Global smartphone shipments rose 5% year-on-year (YoY) in Q3 2024, marking the fourth consecutive quarter of growth, according to a recent report by Canalys. This increase has been primarily driven by strong demand in emerging markets and the beginning of a replacement cycle in North America, China, and Europe.
In Q3, Samsung maintained its lead with 18% of smartphone shipments, closely followed by Apple, which also accounted for 18%. Xiaomi secured 14% of the market, retaining its position as the third-largest smartphone manufacturer.
OPPO reclaimed the fourth spot with 9% market share, bolstered by significant growth in India and Latin America. Vivo rounded out the top five, achieving double-digit growth and capturing 9% of the market.
Le Xuan Chiew, a Canalys analyst, noted that competition among the top five vendors is intensifying. As they approach the holiday season, there is cautious optimism to attract consumers who have postponed upgrades for sales like 11.11 and Black Friday.
However, effective resource planning is vital. While market conditions are improving, demand remains fragile, and vendors face global challenges, including regulatory issues like the EU’s eco-design directive. Proper supply chain management and optimised marketing are crucial for maintaining market leadership.
“Apple recorded its highest third-quarter shipment volume ever and is closer than ever to leading the global smartphone market in Q3,” noted Runar Bjørhovde, an analyst at Canalys.
He noted that strong demand for the iPhone 15 series and legacy models drove Apple’s Q3 success in North America and Europe. The shift to premium devices and a refresh cycle from pandemic purchases have also helped, along with improved product diversification that shortened lead times. Although the iPhone 16 had a modest initial reception, it is expected to enhance performance in late 2024 and early 2025, especially with Apple Intelligence expanding into new markets.
