Global smartphone shipments reached 316.1 million units in Q3 2024, marking a 4.0% year-over-year (YoY) increase, according to IDC’s Worldwide Quarterly Mobile Phone Tracker.
This continues the positive trend from Q2 2024, which saw a 6.5% YoY rise. Despite ongoing economic challenges, this is the fifth consecutive quarter of growth for the smartphone market.
Samsung Retains Leadership Despite Shipment Decline
Samsung maintained its position as the market leader, although its total shipments decreased. The company saw growth in the premium segment, driven by a stronger mix of Galaxy AI-enabled models, according to Francisco Jeronimo, Vice President for EMEA Client Devices.
The launch of the Galaxy Z Fold6 and Galaxy Z Flip6 foldables, along with the wider rollout of Galaxy AI features, contributed to Samsung’s success in the premium segment.
Chinese Vendors Show Strong Growth
Chinese smartphone brands, including vivo, OPPO, Xiaomi, Lenovo, and HUAWEI, significantly contributed to the market’s resilience amid global economic challenges. Will Wong, Senior Research Manager for AP Client Devices, pointed out that growth among vendors was uneven.
Some companies faced higher Bill-of-Materials (BOM) costs, while others benefited from favorable exchange rates in emerging markets, particularly in Southeast Asia. vivo’s performance was notably strong, driven by aggressive product launches and a low comparison base, Wong highlighted.
Apple Sees 3.5% Growth in Q3 2024
Apple experienced a 3.5% YoY growth in shipments, fueled by the success of older models and the launch of the iPhone 16 lineup. The iPhone 15 performed exceptionally well, bolstered by extensive promotions and marketing surrounding Apple Intelligence, said Nabila Popal, Research Director for Worldwide Client Devices.
Although Apple’s new AI-driven features are rolling out gradually outside the U.S., Popal anticipates continued growth during the holiday season, with many customers expected to upgrade from older models like the iPhone 13 and iPhone 12 to AI-enabled devices.
Looking Ahead
As 2024 progresses, the smartphone market remains resilient despite ongoing economic pressures. With strong performances from premium brands like Samsung and Apple, alongside robust growth from Chinese vendors, the global smartphone industry is poised for further expansion in the coming months.