Global Smartphone Market Q3 2024: Samsung and Apple Lead, Xiaomi Tops Chinese Brands

Global Smartphone Market Q3 2024: Samsung and Apple Lead, Xiaomi Tops Chinese BrandsOn December 7th, 2024, TrendForce (TrendForce Corp.) released its global smartphone production report for the third quarter of 2024

Global Smartphone Market Q3 2024: Samsung and Apple Lead, Xiaomi Tops Chinese Brands

On December 7th, 2024, TrendForce (TrendForce Corp.) released its global smartphone production report for the third quarter of 2024. The report indicates a total global smartphone production of 310 million units, a 7% quarter-over-quarter (QoQ) increase and a level comparable to the same period last year. Unlike other market research firms, TrendForce's report details production volume (which can be considered as shipments) for each brand, focusing on QoQ growth rather than year-over-year (YoY) growth. This provides valuable insights into the global smartphone market landscape.

The report reveals Samsung leading with 59 million units produced, capturing a 19% market share and achieving a 9% QoQ growth. Apple follows closely with 51 million units, a 17% market share, and a substantial 15% QoQ growth. Xiaomi ranks third with 43 million units (14% market share) and a 2% QoQ growth. OPPO (including OnePlus and Realme) secures the fourth position with 37 million units (12% market share) and a 5% QoQ growth. Vivo comes in fifth with 27 million units (9% market share) and a 4% QoQ growth. Transsion Holdings occupies the sixth spot producing 25 million units (8% market share) with a 7% QoQ growth.

TrendForce notes that the top six brandsSamsung, Apple, Xiaomi, OPPO, Vivo, and Transsion Holdingsmaintained their positions from Q2 2024, collectively holding nearly 80% of the market share. Their market dominance appears relatively stable in the short term.

Looking ahead to Q4 2024, TrendForce predicts a QoQ growth of approximately 7%, roughly in line with Q4 2023. This anticipated growth is primarily attributed to the launch of the iPhone 16 series and the release of new models from major Android brands, suggesting a new wave of intense competition in the fourth quarter.

While different research firms employ varying methodologies, the top rankings remain relatively consistent. Samsung and Apples significant lead is widely acknowledged and presents a considerable challenge for all other manufacturers.

Xiaomi's global performance is particularly noteworthy. As the leading Chinese smartphone brand, it achieved a production volume of 43 million units in Q3 2024, significantly outpacing other Chinese brands. Even when combining the production volume of OnePlus and Realme under OPPO, Xiaomi still maintains a 6 million unit lead, highlighting its strong competitive advantage and brand power in the global market.

The reports emphasis on QoQ growth provides a fresh perspective on market dynamics. QoQ data more accurately reflects short-term market fluctuations influenced by new product launches and seasonality. Compared to YoY data, QoQ data better captures short-term market trend volatility, enabling businesses to adapt strategies and respond to market shifts more swiftly.

Samsungs long-standing leadership is underpinned by its strong brand recognition and established supply chain. Its comprehensive product portfolio catering to both high-end and budget-conscious consumers contributes significantly to its consistent market share.

Apple's dominance in the premium smartphone segment stems from its powerful brand appeal and innovation. The iPhone 16 series launch will reinforce its premium market leadership and drive Q4 growth. Its robust ecosystem and high user loyalty also represent long-term competitive advantages.

Xiaomis success is attributed to its cost-effective strategy and proactive global expansion. Beyond pricing, its sustained investment in technological innovation and user experience, coupled with its global reach, has set it apart in the fiercely competitive market.

OPPO (including OnePlus and Realme) and Vivo, leveraging their strong domestic presence and international expansion, have secured substantial market shares. Both brands boast unique design and marketing strengths, consistently releasing competitive products to maintain steady growth.

Transsion Holdings focuses on emerging markets, notably succeeding in Africa, demonstrating its understanding of specific market needs and effective localization strategies. Its products are competitively priced and functionally tailored to local consumer demands, securing a significant presence in these regions.

In summary, the Q3 2024 global smartphone market exhibited relative stability, with Samsung and Apple maintaining the lead, Xiaomi securing third place amongst Chinese brands, and other brands competing within their respective niches. Q4 2024, with new product launches and marketing campaigns, presents new opportunities and challenges. How brands navigate market changes and differentiate themselves will be crucial in shaping future market dynamics. This report's data serves as a valuable reference for understanding the competitive landscape and future trends in the global smartphone market.