Global phone market grew for 4th consecutive quarter, Apple had record Q3 volume

The global smartphone market continued to grow in Q3 2024 with Apple hitting a record Q3 shipment volume.

The latest research data from Canalys indicates that the global smartphone shipments grew 5% year on year and mark a fourth consecutive quarter of growth. 

Canalys says that "resilient demand in emerging economies alongside the early stages of a replacement cycle in North America, China, and Europe" has sustained the growth momentum

Samsung maintained the top spot by shipping 18% of phones. Apple was a close second with an 18% share too. According to Canalys, this is Apple's highest Q3 shipment volume yet.

Apple's record Q3 volume is said to be driven by the strong demand for the iPhone 15 lineup and legacy models. The iPhone maker's continued focus on the premium market segment is paying off as the market continues to shift towards premium devices. 

Xiaomi maintained its third position (14%) while OPPO reclaimed fourth place (9%) thanks to massive growth in India and Latin America. Rounding up the top five is Vivo (9%).

Overall, Canalys noted that the gap between the top five phone brands is narrowing and competition is expected to intensify during the holiday season.

While the market outlook is improving, Canalys warns that demand remains fragile due to growing uncertainty in demand generation and regulatory hurdles.

Canalys believes good supply chain management, healthy stock levels, and the optimisation of sales and marketing budgets are critical for phone brands to maintain or grow their market share. 

Source: Canalys

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