Global smartphone shipments rise 5% in Q3 2024

This development was driven by new models and favorable consumer sentiment

Image credit: Microsoft Copilot and Canva

In Q3 2024, global smartphone shipments rose by 5% year-on-year, reaching nearly 310 million units, the best Q3 performance since 2021, according to Canalys.

This growth was driven by smartphone makers launching new models with strong value, encouraging upgrades, and benefiting from favorable consumer sentiment. Samsung led the market with 57.5 million shipments, backed by a streamlined entry-level lineup, while Apple followed closely with 54.5 million units due to the successful iPhone 16 launch, especially in emerging markets. Xiaomi held third place with 42.8 million units, leveraging strategic inventory management.

OPPO and vivo completed the top five, achieving strong results in the Asia Pacific region. Apple’s Q3 performance was aided by optimized supply chains and India-based production, which improved lead times and met high demand in mid-range markets. OPPO's rebranded A3 series saw success in Southeast Asia’s low-end segment, despite challenges like rising component costs.

Emerging markets like Southeast Asia and Latin America outpaced overall growth due to price competition and channel incentives. However, mature markets such as the US, China, and Western Europe are seeing growth in the premium segment, driven by AI-powered features. Canalys expects continued cautious optimism, with brands focusing on inventory management and brand building for sustained growth into 2025.