Global Smartphone Production in Q3 2024: Samsung Leads, Apple Close Behind, Intense Competition Heats Up

Global Smartphone Production in Q3 2024: Samsung Leads, Apple Close Behind, Intense Competition Heats UpThe global smartphone market showed a strong recovery in the third quarter of 2024. According to the latest research data from TrendForce, global smartphone production reached approximately 310 million units in Q3 2024, a 7% quarter-over-quarter increase and roughly on par with the same period last year

Global Smartphone Production in Q3 2024: Samsung Leads, Apple Close Behind, Intense Competition Heats Up

The global smartphone market showed a strong recovery in the third quarter of 2024. According to the latest research data from TrendForce, global smartphone production reached approximately 310 million units in Q3 2024, a 7% quarter-over-quarter increase and roughly on par with the same period last year. This surge is attributed to major brands launching flagship new models and the arrival of the traditional peak sales season. The data indicates that the smartphone market maintains resilience despite global economic headwinds, with strong consumer demand for high-end smartphones persisting.

The report provides an in-depth analysis of the production of the top six global smartphone brands, highlighting the intense competition within the market. Samsung, with its strong brand influence and product competitiveness, led the pack with a production of nearly 59 million units, a 9% QoQ increase, capturing a 19% market share. This demonstrates Samsung's continued dominance in the high-end market, driven by the success of its flagship models.

Following closely behind was Apple. Driven by strong performance in the high-end segment and robust sales of its new models, Apple produced approximately 51 million units in Q3, representing a 15% QoQ growth and nearly 17% market share. Although slightly below Samsung in production volume, Apple's high growth rate and high profit margins solidify its significant position in the market. Its precise product positioning and high brand loyalty continue to attract high-end consumers.

Xiaomi (including Redmi and POCO brands) ranked third with nearly 43 million units produced, a 2% QoQ increase and a 14% market share. Xiaomi's strong competitiveness in the mid-to-low-end market stems from its cost-effective product strategy. However, the relatively low QoQ growth rate suggests a need for improved product competitiveness and market share expansion.

OPPO (including OnePlus and realme brands) produced approximately 37 million units in Q3, a 5% QoQ increase and a 12% market share. OPPO employs a diversified market strategy, utilizing different brands to target various market segments and cater to diverse consumer needs. Its QoQ growth indicates stable market performance, although further improvement is possible.

vivo (including iQOO brand) produced around 27 million units in Q3, a 4% QoQ increase and a 9% market share. vivos multi-brand strategy mirrors OPPOs, but its market performance is relatively conservative. The lower QoQ growth rate indicates a need for enhanced product competitiveness and market strategies.

Transsion (including TECNO, Infinix, and itel brands) ranked sixth with approximately 25 million units produced in Q3, showing a 7% QoQ growth. Focused primarily on emerging markets, Transsion's cost-effective products cater to the needs of these consumers. Its QoQ growth rate aligns with the overall market growth, suggesting stable expansion in emerging markets.

TrendForce's data reveals that the top six smartphone brands account for nearly 80% of the market share, reflecting the market's concentrated nature. Leading brands possess a clear competitive advantage, while smaller players face increasing pressure.

Looking ahead to Q4 2024, TrendForce predicts a nearly 7% QoQ increase in global smartphone production, similar to the same period last year. This is primarily driven by peak production of new Apple models and the year-end market share push by Android manufacturers. This suggests a continued active smartphone market in Q4, with even more intense competition.

In conclusion, the global smartphone market demonstrated robust performance in Q3 2024, with Samsung and Apple holding leading positions, while other brands fiercely compete in their respective segments. Q4 promises even more intense competition, driven by Apple's increased production and the year-end push from Android rivals. Brands will face significant challenges and opportunities, necessitating continuous improvement in product competitiveness, innovation in products and services to stand out and gain greater market share. The future smartphone market will emphasize technological innovation, user experience, and market segmentation. Only by adapting to market changes will companies thrive in this competitive landscape.