Global Smartphone Shipments Grow 5% YoY in Q3 2024, Samsung Leads, Apple Hits Record High

Global Smartphone Shipments Grow 5% YoY in Q3 2024, Samsung Leads, Apple Hits Record HighAccording to Canalys' Q3 2024 Global Smartphone Shipment Analysis, global smartphone shipments increased by 5% year-over-year to reach 309.9 million units

Global Smartphone Shipments Grow 5% YoY in Q3 2024, Samsung Leads, Apple Hits Record High

According to Canalys' Q3 2024 Global Smartphone Shipment Analysis, global smartphone shipments increased by 5% year-over-year to reach 309.9 million units. This is the strongest third quarter performance since 2021, driven by a combination of new product launches with higher value-for-money offerings from major smartphone brands, as well as an increase in upgrade cycles and consumer confidence.

Samsung led the market with 57.5 million shipments thanks to its streamlined entry-level product line. Apple's iPhone 16 series performed strongly in emerging markets, with a narrowed hardware gap between the base and Pro models, resulting in a record 54.5 million shipments, securing the second position. Xiaomi, benefiting from new product inventory strategies in key markets, achieved 42.8 million shipments and a 14% market share, placing it third. OPPO and vivo followed with 28.6 million and 27.2 million shipments respectively, demonstrating strong performance in the fiercely competitive Asia Pacific region.

Apple's diversified production layout, particularly in India, effectively shortened delivery times, accelerated pre-order processes, and stimulated local demand through competitive pricing. However, it is important to note that geopolitical obstacles and potential delays in the launch of AppleIntelligence could impact Apple's performance during the Q4 holiday season and in 2025.

OPPO's revamped A3 series, focusing on the USD 100-200 price segment (approximately RMB 713-1425), found significant success, especially in Southeast Asia, highlighting the effectiveness of this strategy. By simplifying its product line, OPPO achieved a 30% year-over-year growth in the region, paving the way for further market share expansion.

Xiaomi leveraged its strong open market and brand stores to push shipments of its high-end products, attracting consumers towards its Pro series. Meanwhile, vivo expanded the model coverage of its V40 series to strengthen its mid-range product line.

In conclusion, the Q3 2024 global smartphone market demonstrated strong performance, with brands introducing new product portfolios and optimizing production layouts and product strategies to gain market share. Going forward, geopolitical shifts and the adoption of new technologies will continue to shape the smartphone market, demanding constant innovation from brands to navigate emerging challenges and opportunities.