Global Smartphone Market Returns to Growth: Samsung Leads, Apple Reclaims Top Spot

Global Smartphone Market Returns to Growth: Samsung Leads, Apple Reclaims Top SpotMarket research firm Counterpoint Research recently published a report stating that global smartphone sales grew 2% year-on-year in the third quarter of 2024. This marks the first time a year-on-year positive growth has been observed since the third quarter of 2018

Global Smartphone Market Returns to Growth: Samsung Leads, Apple Reclaims Top Spot

Market research firm Counterpoint Research recently published a report stating that global smartphone sales grew 2% year-on-year in the third quarter of 2024. This marks the first time a year-on-year positive growth has been observed since the third quarter of 2018. The report highlights that this marks the fourth consecutive quarter of growth for the global smartphone market, demonstrating a gradual recovery. While the growth rate has slowed compared to previous quarters, the market remains stable in 2024 with consumer sentiment and macroeconomic factors improving from last year.

Brand Performance: Samsung Leads, Apple Reclaims Top Spot

In terms of brand performance, Samsung retained its top position with a 19% market share, driven by sustained demand for the Galaxy A series and strong performance from the Galaxy S24 series. Apple saw a 1% increase in sales, thanks to the launch of the iPhone 16 series, ultimately becoming the top-selling brand globally in September.

Xiaomi has consistently grown for four consecutive quarters and briefly climbed to the second position in August. OPPO held the fourth position, achieving its highest sales since the third quarter of 2023. Vivo outperformed its peers, being the fastest-growing brand among the top five in the third quarter. It has also become the number one OEM in both China and India, the world's two largest smartphone markets, claiming the "double champion" title.

Huawei and Motorola experienced rapid growth with a near 30% year-on-year increase. Motorola and Google also achieved record single-quarter smartphone sales in the third quarter.

High-End Smartphone Market Remains Hot

Despite the overall slowdown in smartphone sales growth, consumers are spending more than ever on new phones. Counterpoint Research estimates that over a quarter of global consumers are purchasing high-end smartphones priced over $600. New technologies like AI are a major driver behind the popularity of high-end phones.

Conclusion

The global smartphone market returned to growth in the third quarter of 2024, indicating a gradual market recovery. Samsung and Apple continue to lead the market, while other brands also demonstrate strong growth momentum. The high-end smartphone market remains hot, with the adoption of new technologies like AI fueling consumer demand for premium devices. Looking ahead, the global smartphone market is expected to continue growing, fueled by intensified market competition and ongoing technological innovation.