Global Smartphone Market Rebounds, Apple Sees Strong Growth Amidst Intense Competition
Global Smartphone Market Rebounds, Apple Sees Strong Growth Amidst Intense CompetitionCanalys' latest report reveals a 5% year-on-year increase in global smartphone shipments for the third quarter of 2024, marking the fourth consecutive quarter of growth. This surge is driven by robust demand from emerging economies, coupled with early stages of the upgrade cycle in North America, China, and Europe
Global Smartphone Market Rebounds, Apple Sees Strong Growth Amidst Intense Competition
Canalys' latest report reveals a 5% year-on-year increase in global smartphone shipments for the third quarter of 2024, marking the fourth consecutive quarter of growth. This surge is driven by robust demand from emerging economies, coupled with early stages of the upgrade cycle in North America, China, and Europe.
The report data demonstrates a tie for the top spot between Samsung and Apple, each commanding an 18% market share. Xiaomi follows closely with 14%, while OPPO and vivo capture 9% each. The remaining 32% of the market share is held by other manufacturers.
Notably, Apple's third-quarter shipments reached an all-time high for that period, bringing them closer than ever to the top spot in global shipments. The iPhone 15 series, alongside persistent strong demand for older iPhone models, contributed significantly to their impressive performance.
Canalys Analyst Runar Bjrhovde attributes Apple's stellar third-quarter results to the iPhone 15 series' success and sustained demand for older iPhones. He emphasizes that Apple's leadership in the premium segment and its robust brand influence are crucial for maintaining its strong growth trajectory.
Le Xuan Chiew, another Canalys Analyst, points to a narrowing gap between the top five manufacturers, indicating an increasingly competitive landscape. He highlights that with rising smartphone penetration in emerging markets and evolving market demands, competition among manufacturers will intensify.
The future of the smartphone market will continue to be influenced by various factors, including the global economic environment, emerging market development, 5G technology adoption, and innovation in products and technologies. Manufacturers must continually enhance their product competitiveness and adapt to changing market needs to thrive in this fiercely competitive arena.
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