Canalys reports that while the overall market conditions are improving, the demand for devices remains fragile.
iPhone 16 series could help Apple carry momentum into next year, analysis reveals
Global smartphone shipments grew 5 percent year-over-year (YoY) in the third quarter (Q3) of 2024, according to a report by a market research firm. Samsung maintained its position as the original equipment manufacturer with the highest percentage of units shipped, whereas Apple and Xiaomi held onto their rankings from the last quarter. However, all three of them registered marginal drops in the market share. The analysis suggests Vivo also recorded a positive finish to the quarter.
A report by market analysis firm Canalys reveals Samsung recorded an 18 percent share in smartphone shipments in Q3 2024, helping it achieve the top spot. The South Korean technology conglomerate lost a three percent market share YoY. The same goes for Apple, which registered a 17 percent market share in this quarter, compared to its 18 percent share same time last year. The iPhone maker finished the quarter with the second most shipments.
As per Canalys, this is Apple's third-highest quarter volume to date. Some contributing factors to the overall growth of the Cupertino-based tech giant include strong demand for the iPhone 15 series and previous models. The analysis emphasised a market shift towards premium devices, especially in Apple's strong-hold regions like Europe and North America. It is suggested that Apple's latest smartphone lineup — the iPhone 16 series — may not only help it to a strong finish in Q4 2024 but also carry the moment in the first half (H1) of 2025.
Meanwhile, Xiaomi and Oppo grabbed the third and fourth spots on the list with 14 and nine percent market shares, respectively. The latter was helped by its strong performance in Indian and Latin American markets, as per the analysis. Vivo recorded double-digit growth in shipments and rounded up the top five, finishing with a nine percent market share.
Canalys reports that while the overall market conditions are improving, the demand for devices remains fragile. This is due to global challenges including demand generation and regulatory hurdles.
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