Global Smartphone Shipments Rise 5% in Q3 2024, Samsung and Apple Lead the Market

According to the latest research from Canalys, global smartphone shipments grew 5% year-on-year in Q3 2024, marking the fourth consecutive quarter of growth. The resurgence in the market is driven primarily by resilient demand in emerging economies and the early stages of a replacement cycle in North America, China, and Europe.

Samsung narrowly defended its position as the leading smartphone vendor, shipping 18% of smartphones during Q3. Apple followed closely, also capturing 18% of the market, driven by strong sales of the iPhone 15 series and its legacy models. Analyst Runar Bjørhovde from Canalys highlighted that Apple achieved its highest Q3 volume to date and has "never been closer to leading the global smartphone market in a Q3." The shift towards premium devices and the ongoing refresh cycle from pandemic-era purchases significantly benefited Apple, particularly in North America and Europe.

Xiaomi secured third place with 14% market share, maintaining its position as a key player in the global smartphone market. OPPO reclaimed the fourth spot for the first time this year, with 9% market share, buoyed by strong growth in India and Latin America. Vivo rounded out the top five, growing its shipments by double digits to capture 9% of the market.

The competitive landscape among the top five vendors continues to tighten. Analyst Le Xuan Chiew from Canalys noted, "Vendors are entering the holiday shopping season with solid momentum and cautious optimism," as they look to attract consumers delaying upgrades in anticipation of deals during major events like 11.11 and Black Friday. Despite improving market conditions, vendors face challenges such as demand generation, regulatory hurdles, and managing supply chains efficiently. As a result, effective resource planning, inventory management, and strategic sales and marketing efforts are now more crucial than ever for maintaining market leadership.

As the smartphone market gears up for the holiday season, vendors will need to navigate these challenges to sustain growth into 2025.