Global smartphone shipments rose by 5 percent year-on-year in Q3 2024, totaling 309.9 million units, marking the strongest performance for Q3 since 2021, according to Canalys research.
Growth in smartphone market Q3 2024Samsung led with 57.5 million shipments, supported by an optimized entry-level lineup. Samsung has 19 percent share in the global smartphone market in Q3 2024 vs 20 percent in Q3 2023. Samsung had shipped 58.6 million smartphones in Q3 2023.
Apple secured second place with a record 54.5 million units, largely driven by the successful launch of the iPhone 16 series in emerging markets. Apple has 18 percent share in the global smartphone market in Q3 2024 vs 17 percent in Q3 2023. Apple had shipped 50 million iPhones in Q3 2023.
Xiaomi followed in third with 42.8 million units, benefiting from strategic inventory positioning for new product launches. Xiaomi has 14 percent share in the global smartphone market in Q3 2024 vs 14 percent in Q3 2023. Xiaomi had shipped 41.5 million smartphones in Q3 2023.
OPPO and vivo rounded out the top five with 28.6 million and 27.2 million units shipped, respectively.
OPPO has 9 percent share in the global smartphone market in Q3 2024 vs 9 percent in Q3 2023. OPPO had shipped 26.4 million smartphones in Q3 2023.
Vivo has 9 percent share in the global smartphone market in Q3 2024 vs 7 percent in Q3 2023. Vivo had shipped 22 million smartphones in Q3 2023.
Apple’s Q3 success is attributed to enhanced channel and supply chain optimizations, allowing for quicker fulfillment of pre-orders, especially for older iPhone models. Despite this success, potential geopolitical challenges and delays in new technology deployments could affect future performance.
Intense competition in the low-end market persists, with OPPO’s rebranded A3 series seeing significant growth in Southeast Asia.
Rising component costs and market saturation present challenges for long-term profitability, prompting brands to focus on mid-tier growth in emerging markets.
Xiaomi aims to boost mid-to-high-end sales by leveraging its brand presence, while vivo expands its V40 series to enhance its mid-range offerings.
Canalys expresses cautious optimism for the remainder of the year, highlighting that emerging markets are outperforming overall trends due to increased price competition. However, inflationary pressures may hinder profitability in the ultra-low-end segment, while premium segment growth in mature markets will depend on AI-driven innovations.
Baburajan Kizhakedath
