Canalys: Global smartphone market grew by 5% in the third quarter, Apple's shipment volume reached a historical high for the same period

Canalys reported that in the third quarter of 2024, global smartphone shipments increased by 5% year-on-year, achieving growth for four consecutive quarters. This growth is mainly driven by strong demand from emerging economies, as well as the early stages of replacement cycles in the North American, Chinese, and European markets. Samsung's smartphone shipments accounted for 18% of the global market, slightly ahead of Apple, securing the top spot in the market. Apple (AAPL.US) held a market share of 18%, ranking second. Supported by strong growth in the Indian and Latin American markets, OPPO returned to the market's fourth position for the first time this year with a 9% market share. Vivo entered the top five with double-digit growth and a 9% market share. Canalys analyst Runar Bjørhovde emphasized, "In the third quarter of this year, Apple's shipments reached the highest level ever for the same period, bringing it closer than ever to the top spot in global shipments. The strong demand for the iPhone 15 series and Apple's older models played a crucial role in its performance in the third quarter. With the shift in market demand towards high-end devices, coupled with devices purchased during the pandemic entering replacement cycles, these factors have been very beneficial for Apple, especially in regions like North America and Europe. Apple's efforts to diversify its products have also helped shorten delivery times. Despite the average initial response, it is expected that the iPhone 16 will help Apple maintain strong growth in 2024 and continue its momentum into the first half of 2025 as Apple Intelligence expands into new markets and supports more languages." Canalys analyst Le Xuan Chiew commented, "The gap between the top five manufacturers has narrowed, intensifying competition. Manufacturers are approaching the holiday shopping season with a steady momentum and cautious optimism, aiming to attract consumers who have delayed upgrading their devices due to major promotions such as Double 11 and Black Friday. However, the importance of effective resource planning needs to be emphasized. While market conditions are improving, the momentum of demand recovery remains fragile. Manufacturers are facing increasingly global challenges and regulatory obstacles in creating demand, such as the EU's ecodesign directive. Effective supply chain management, maintaining healthy inventory levels, and optimizing sales and marketing investments are becoming increasingly important for manufacturers to consolidate their market leadership positions."