According to preliminary data fromIDC for the third quarter of 2024, the global smartphone market experienced a 4.0% YoY increase in shipments, reaching 316.1 million units. This marks the fifth consecutive quarter of shipment growth, indicating a strong performance despite macroeconomic concerns. The market’s resilience is largely due to strong growth from Chinese vendors such as vivo, Oppo, Xiaomi, Lenovo, and Huawei. Vivo’s strong performance was fueled by aggressive product launches and starting from a low base, while some companies benefited from favorable exchange rates in emerging markets like Southeast Asia. However, growth among vendors was uneven, with some grappling with elevated Bill-of-Materials costs.
Apple also enjoyed a 3.5% YoY growth in shipments, driven by strong demand for previous models and the launch of the new iPhone 16 lineup. Older models like the iPhone 15 performed exceptionally well due to heavy promotions and increased marketing activities around Apple Intelligence. Despite the staggered rollout of Apple Intelligence in markets outside the US, Apple is expected to continue growing in the upcoming holiday season as many customers upgrade from the iPhone 13, iPhone 12, and prior models to new AI-enabled smartphones, aiming to future-proof their purchases.
Samsung retained its market leadership despite a drop in the total number of units shipped. The company continues to grow its share in the premium segment, with average prices increasing due to a stronger mix of Galaxy AI-enabled models. Samsung has started rolling out Galaxy AI features to other models and launched the new Galaxy Z Fold6 and Galaxy Z Flip6 foldables with Galaxy AI, contributing to better performance in the premium segment.
| Company | 3Q24 Shipments | 3Q24 Market Share | 3Q23 Shipments | 3Q23 Market Share | YoY Change |
| Samsung | 57.8 | 18.30% | 59.5 | 19.60% | -2.80% |
| Apple | 56 | 17.70% | 54.1 | 17.80% | 3.50% |
| Xiaomi | 42.8 | 13.50% | 41.5 | 13.60% | 3.30% |
| Oppo | 28.8 | 9.10% | 27.2 | 8.90% | 5.90% |
| vivo | 27 | 8.50% | 22 | 7.20% | 22.80% |
| Others | 103.7 | 32.80% | 99.6 | 32.80% | 4.10% |
| Total | 316.1 | 100.00% | 303.9 | 100.00% | 4.00% |
