Smartphone market sees strongest Q3 since 2021

Global smartphone shipments grew 5% year-on-year in Q3 2024, reaching 309.9 million units, the strongest Q3 performance since 2021.

Apple retained second place with a record 54.5 million units, driven by the iPhone 16’s strong debut in emerging markets from narrower hardware gaps between base and Pro models. “Apple achieved record Q3 shipments, driven by a strategic blend of channel and supply chain optimisations,” says Canalys analyst Le Xuan Chiew.

“Nevertheless, it is vital to note the geopolitical obstacles, and the delayed deployment of Apple Intelligence may substantially hinder Apple’s performance both in the festive fourth quarter and in 2025.” “By streamlining its portfolio, Oppo has seen 30% year-on-year growth in the region and is poised to further increase its market share. But rising component costs and channel saturation pose challenges to long-term profitability and the sustainability of mass-market strategies,” says Zhu.

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