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Global smartphone shipments grow 5% in Q3

Global smartphone shipments grow 5% in Q3

Analyst firm Canalys reported that global smartphone shipments grew 5% year-on-year in Q3 2024, marking the fourth consecutive quarter of growth. 

This increase was driven by demand from emerging economies and replacement cycles in North America, China, and Europe.

Korean vendor Samsung was the top shipper with an 18% market share in the third quarter, narrowly beating Apple, which also held 18%. Xiaomi followed with a 14% market share, maintaining its position as the third-largest vendor. Oppo took fourth place for the first time, with 9%, buoyed by growth in India and Latin America. Rounding off the top five was Vivo, also with 9%.

Canalys Analyst Runar Bjørhovde noted that this was Apple’s highest third-quarter volume to date and commented that it “has never been closer to leading the global smartphone market in a Q3 than now.”

The analyst added that strong demand for the iPhone 15 series, along with Apple’s legacy models, played key roles in the company’s performance in the recent quarter.

“The gap between the top five vendors has narrowed, intensifying the competitive landscape,” added Le Xuan Chiew, Analyst at Canalys.

“Vendors are entering the holiday shopping season with solid momentum and cautious optimism, aiming to attract consumers who have postponed upgrading their devices in anticipation of deals during major events like 11.11 and Black Friday.”

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