Canalys: Global smartphone shipments to grow 5% year-on-year in Q3 2024

According to the latest research from Canalys, global smartphone shipments grew 5% year-on-year in the third quarter of 2024, marking the fourth consecutive quarter of growth. The current growth is mainly driven by resilient demand in emerging economies and the early stages of the replacement cycle in North America, China and Europe.

Samsung accounted for 18% of global smartphone shipments in the third quarter, barely holding on to its lead over Apple, which had 18% of iPhone shipments. Xiaomi maintained its position as the third-largest smartphone vendor with a 14% market share. Oppo reclaimed fourth place for the first time this year with a 9% market share, supported by strong growth in India and Latin America. Rounding out the top five, Vivo saw double-digit shipment growth and a 9% market share.

Canalys analyst Runar Bjørhovde said: "Apple's third-quarter sales reached its highest level and it has never been closer to leading the global smartphone market in the third quarter. Continued strong demand for the iPhone 15 series, as well as Apple's traditional models, played a crucial role in its third-quarter performance. The market's shift toward high-end devices, intersecting with the continued refresh cycle of devices purchased during the pandemic, has benefited Apple, especially in its stronghold regions, North America and Europe. Apple's improved product diversification has helped it shorten delivery times. Despite the initial mediocre response, the iPhone 16 is expected to help Apple maintain strong sales momentum until 2024 and maintain strong momentum in the first half of 2025, especially as Apple smartphones expand into new markets and support more languages."

“The gap between the top five vendors has narrowed, intensifying the competitive landscape as vendors head into the holiday shopping season with strong momentum and cautious optimism, aiming to attract consumers who had held off on upgrading their devices in anticipation of deals during major events such as Singles’ Day and Black Friday,” said Canalys analyst Le Xuan Chiew.