Canalys: Smartphone shipments grew for five consecutive quarters, Xiaomi closes in on Apple and Samsung
2024 saw 1.22 billion units shipped across all brands, but the top three are fiercely guarding their respective market shares. #smartphone #apple #samsung #xiaomi
The iPhone 16 Pro reviewed by HWZ. Photo: HWZ.
According to Canalys' latest report on the handset market, 2024 saw 1.22 billion smartphone shipments worldwide, with the usual suspects taking the top spots in market share.
Canalys’ Smartphone Analysis Service reported that 330 million phones were shipped in Q4 2024, a “significantly slowed” 3% growth. That said, it’s the fifth consecutive growth quarter, making mobiles a booming business for all the top brands commanding the largest slices of the phone pie.
Market share comparison between the first quarter of growth (Q4 2023) versus the current known quarter (Q4 2024). Image: Canalys.
When comparing between the Q4s between 2023 and 2024, the top three brands with the most market share — Apple, Samsung, and Xiaomi — did not change. If anything, Apple and Samsung both saw a tiny 1% more phones shipped.
“Apple solidified its global position through growth in emerging markets like India and Southeast Asia in 2024… …However, competition and a prolonged replacement cycle limited its growth momentum in some developed markets. Looking ahead to 2025, Apple is expected to achieve growth, driven by a refreshed portfolio, hardware upgrades and broader adoption of Apple Intelligence,” Said Le Xuan Chiew, an analyst at Canalys.
Market share per quarter tallies with each brand's launch cycles, with the last three years showing Apple seeing peaks during the iPhone launches while Samsung gets the most during Galaxy S announcements. Image: Canalys.
“Despite challenges from rising supply chain costs since early 2024, Android brands like Xiaomi, TRANSSION and vivo achieved double-digit growth, supported by extensive channel networks, competitive products, and effective inventory management. Meanwhile, mid-range devices faced demand pressure as consumers in emerging markets favoured value-for-money products, while mature markets showed a trend toward higher average selling prices,” added Toby Zhu, fellow analyst at Canalys.
Xiaomi was the only brand among the top three to see year-on-year growth. Canalys credits the momentum to Xiaomi’s increased globalisation efforts and home market presence.
While growth is slower at 3% in Q2 2024, it's actually still better than the period between Q1 2022 to Q3 2023, which was two continuous years of decline. Image: Canalys.
Canalys’ findings mostly match those of other research firms, such as Counterpoint Research. The latter claimed that 2024 saw a 4% year-on-year growth rate (after two years of decline). The research firm also said that Apple and Samsung largely remained flat, with Xiaomi seeing the fastest growth.
Source: Canalys (press note), Counterpoint Research
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