Canalys: Global Smartphone Market Rises 5%

Canalys has released its preliminary report on the global smartphone market for Q3 2024, revealing that shipments have grown both sequentially and year-over-year. The analysts note that an ongoing replacement cycle has been the key driver of this growth from July to September, with competition becoming more intense than ever.

Samsung held on to its top position, but it was a close call, as Apple matched its market share when rounded to the nearest whole number.

Xiaomi, Oppo, and vivo rounded out the Top 5 in the global smartphone market, but all eyes were on Apple as it recorded its highest third-quarter sales volume yet. There was a surge in demand for the iPhone 15 and new devices set to receive Apple Intelligence updates later this month. The significant boost in Apple’s shipments resulted from a market shift toward premium devices.

Looking ahead, the performance of the iPhone 16 is expected to further propel Apple, helping it reclaim its title as the leading smartphone company in Q4. This momentum could continue into the first half of 2025, especially as Apple expands its AI features into key markets like Europe and China—though that rollout will take a bit longer.

The market looks healthy going into the the shopping holiday season, with Diwali in India on October 31, Singles’ Day in China on November 11 (11.11), Black Friday in late November, and, of course, Christmas at the end of the year.

Canalys pointed out that the smartphone market is improving, but some vendors are still facing global challenges in demand generation and regulation hurdles, especially in the European Union.