Samsung Leads, Apple Closely Follows: Global Smartphone Market Grows 5% YoY in Q3

Samsung Leads, Apple Closely Follows: Global Smartphone Market Grows 5% YoY in Q3According to the latest report by Canalys, global smartphone shipments grew 5% year-on-year in the third quarter of 2024, marking a fourth consecutive quarter of growth. Samsung secured the top spot with an 18% market share, followed closely by Apple with an 18% market share

Samsung Leads, Apple Closely Follows: Global Smartphone Market Grows 5% YoY in Q3

According to the latest report by Canalys, global smartphone shipments grew 5% year-on-year in the third quarter of 2024, marking a fourth consecutive quarter of growth. Samsung secured the top spot with an 18% market share, followed closely by Apple with an 18% market share. Xiaomi maintained its position as the third-largest smartphone manufacturer with a 14% market share, while OPPO returned to the top four with a 9% market share. Vivo climbed into the top five with double-digit growth and a 9% market share.

It's noteworthy that Apple's shipments in the third quarter hit a record high for the period, narrowing the gap with the world's top shipment position. Analyst Runar Bjrhovde pointed out that the strong demand for the iPhone 15 series and continued popularity of older models were crucial driving forces behind Apple's impressive performance in the third quarter.

Despite global economic slowdown and inflation pressures, the smartphone market continues to show healthy growth. This is attributed to consumer demand for higher quality, more powerful smartphones and the rapid development of 5G technology.

Samsung strengthened its market leadership in the third quarter, benefiting from its extensive presence in the mid-to-low-end market and the strong performance of its flagship Galaxy S and Fold series.

Xiaomi maintained its position as the world's third-largest smartphone manufacturer in the third quarter. Its strong performance in emerging markets like India and the excellent value proposition of its Redmi series products were key to its competitiveness.

OPPO returned to the top four in the third quarter thanks to product updates in the mid-to-high-end market and the market recognition of its Find and Reno series.

Vivo achieved double-digit growth thanks to its innovations and marketing efforts, securing a spot among the top five. Its X and S series products are particularly popular among younger users.

Overall, the global smartphone market witnessed steady growth in the third quarter. Leading players like Samsung, Apple, Xiaomi, OPPO, and Vivo have demonstrated strong competitive strength in various markets and segments. The future of the smartphone market will continue to move towards diversification, high quality, and innovation.