Samsung Remains Global Smartphone Leader, Xiaomi Crowned King of Chinese Brands: Q3 2024 Global Smartphone Market Report

Samsung Remains Global Smartphone Leader, Xiaomi Crowned King of Chinese Brands: Q3 2024 Global Smartphone Market ReportAfter weathering the storm of the pandemic and global economic uncertainty, the global smartphone market finally showed signs of recovery in the third quarter of 2024. According to the latest report from renowned research firm Canalys, global smartphone shipments reached 309

Samsung Remains Global Smartphone Leader, Xiaomi Crowned King of Chinese Brands: Q3 2024 Global Smartphone Market Report

After weathering the storm of the pandemic and global economic uncertainty, the global smartphone market finally showed signs of recovery in the third quarter of 2024. According to the latest report from renowned research firm Canalys, global smartphone shipments reached 309.9 million units in Q3 2024, a 5% year-on-year increase. This marks the highest third-quarter shipment volume since 2021.

This report has generated widespread interest in the industry, with everyone eager to learn who has emerged as the global smartphone champion and which brand has become the king of Chinese smartphone manufacturers. The report did not disappoint and provided detailed information on shipment volumes and market share rankings for major global smartphone brands.

The report revealed that Samsung maintained its position as the global leader with a 19% market share, shipping 57.5 million units despite a 2% year-on-year decline. Apple closely followed, shipping 54.5 million units, securing an 18% market share with a 9% year-on-year growth. Xiaomi secured third place with shipments of 42.8 million units and a 14% market share, marking the highest shipment volume among Chinese brands, with a 3% year-on-year increase.

It's worth noting that among the top five brands, only Samsung experienced a year-on-year decline in shipments, while the other four brands all saw growth, with vivo experiencing the most significant growth at 24%.

Looking at market share percentages, Samsung and Apple are in the first tier, with a difference of just 3 million units in shipments. Xiaomi falls into the second tier, with a gap of over 12 million units compared to Samsung and Apple. OPPO and vivo belong to the third tier, with over 14 million units separating them from Xiaomi, while the difference between themselves is only a little over 1 million units, making it almost negligible.

It's worth mentioning that OPPO fell out of the top five in the domestic market during the third quarter but secured fourth place in the global market, surpassing vivo. This indicates a strong performance for OPPO in overseas markets. Xiaomi, on the other hand, holds third place in both the global and domestic markets, solidifying its position as one of the three major global smartphone giants and demonstrating continued growth momentum.

The report highlights the emergence of new trends in the global smartphone market. While leading brands remain dominant in market share, emerging brands are rising and steadily eating into the market share of established players.

The future of the global smartphone market will be marked by even fiercer competition. Manufacturers must constantly innovate and introduce more competitive products to achieve success in this dynamic landscape.