Global Smartphone Market Q3 2024 Report: Samsung Leads Shipments, Apple Reigns in Revenue, China Sees First Growth in Five Years

Global Smartphone Market Q3 2024 Report: Samsung Leads Shipments, Apple Reigns in Revenue, China Sees First Growth in Five YearsCounterpoint Research's latest report reveals a positive rebound in the global smartphone market during Q3 2024. Global smartphone shipments reached 307 million units, a 2% year-over-year increase the first such increase since Q3 2018, signaling a recovery from the recent downturn

Global Smartphone Market Q3 2024 Report: Samsung Leads Shipments, Apple Reigns in Revenue, China Sees First Growth in Five Years

Counterpoint Research's latest report reveals a positive rebound in the global smartphone market during Q3 2024. Global smartphone shipments reached 307 million units, a 2% year-over-year increase the first such increase since Q3 2018, signaling a recovery from the recent downturn.

In the global market competition, Samsung maintained its lead in shipments with a 19% market share, driven by its strong brand recognition and diverse product lineup. However, Apple topped the revenue charts, achieving record-high shipments, revenue, and average selling price for a Q3. This highlights the success of Apple's high-end strategy and its strong brand premium and profitability.

Xiaomi secured the third position globally, with revenue growth outpacing shipment growth, indicating progress in enhancing product value and profitability. OPPO followed closely in fourth place, while vivo demonstrated the fastest year-over-year growth among the top five brands, showcasing its aggressive market strategy.

Globally, Samsung and Apple's sales remained relatively flat compared to the previous year. However, thanks to the early release of the iPhone 16, Apple briefly held the top spot in global sales during September, underscoring the impact of new product launches and Apple's innovation and marketing prowess.

Beyond the top five, Motorola and Huawei were key drivers of market growth this quarter, experiencing nearly 30% sales growth. Furthermore, both Motorola and Google achieved their highest-ever quarterly sales. This demonstrates the expanding market presence of non-flagship brands and increased market diversity.

The Chinese market also showed signs of recovery, with a 2.3% year-over-year growth in smartphone sales during Q3 2024, potentially signaling the first annual growth in five years. This suggests a warming Chinese smartphone market with significant future potential.

In the intensely competitive Chinese market, vivo reclaimed the top spot with a 19.2% market share, demonstrating strong market competitiveness. Huawei followed closely with a 16.4% share, and Xiaomi held third place with 15.6%. These three brands dominate the Chinese market, and their competition will significantly influence its future trajectory.

In summary, the global smartphone market experienced a positive recovery in Q3 2024, with a 2% year-over-year growth to 307 million units. Samsung led in shipments, while Apple dominated revenue. The Chinese market saw its first growth in five years, with vivo regaining the top market share. Brands like Motorola and Huawei also showed strong growth momentum. These figures indicate positive changes in the global smartphone market, with manufacturers actively adapting strategies to meet evolving market demands. Future competition will intensify, with innovation and market strategies being crucial determinants of success. While the current data points towards a positive trend, continued monitoring of market shifts is crucial for accurate future predictions. Technological advancements and evolving consumer demands will continue to present new opportunities and challenges in the smartphone market.

The data in this report is sourced from Counterpoint Research, a reputable and reliable source. This data provides valuable insights into the global smartphone market and offers important decision-making support for industry players. With ongoing technological advancements and intensifying competition, the dynamism of the global smartphone market warrants continued observation. How manufacturers respond to market challenges and enhance product competitiveness will be key to their future prospects.