The global smartphone market saw a 5% year-over-year increase in shipments during Q3 2024, reaching 309.9 million units, according to the latest report from Canalys. While Samsung retains its top spot, Apple is closing the gap, thanks to the successful launch of the iPhone 16 series.
Samsung Holds On, But Apple Surges:
- Samsung: Shipped 57.5 million units, maintaining a 19% market share. However, this represents a 2% decline in shipments compared to Q3 2023.
- Apple: Saw a 9% year-over-year increase, shipping 54.5 million iPhones and capturing an 18% market share. The strong performance is attributed to the iPhone 16 launch and improved supply chain management.
The Rest of the Top Five:
- Xiaomi: Secured the third position with 42.8 million shipments and a 14% market share.
- OPPO: Shipped 28.6 million units, holding a 9% market share.
- Vivo: Rounded out the top five with 27.2 million shipments and a 9% market share.
Market Trends and Analysis:
The overall growth in smartphone shipments suggests a recovering market, driven by new product launches, competitive pricing, and expanding 5G adoption in developing regions. Apple's continued growth puts pressure on Samsung, and the competition between the two giants is expected to intensify in the coming quarters. The performance of Chinese brands like Xiaomi, OPPO, and Vivo demonstrates their continued strength in key markets.
