Worldwide Smartphone Shipments Surge 4% In Q3 2024

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Fuelled by booming demand from Chinese brands like vivo and OPPO, global smartphone shipments soared 4% YoY to 316.1 million in Q3 2024, marking five straight growth quarters…

Smartphone shipments worldwide rose by 4% year-over-year (YoY), reaching 316.1 million units in the third quarter of 2024, according to International Data Corporation (IDC). The report stated that this trend marks the fifth consecutive quarter of growth, showcasing a solid start for the second half of the year despite ongoing macroeconomic challenges.

The growth was driven by demand from Chinese vendors like vivo, OPPO, Xiaomi, Lenovo, and Huawei. However, vendor performance varied; some struggled with high Bill-of-Materials (BOM) costs, while others gained from favourable exchange rates in emerging markets. 

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Vivo’s notable success stemmed from aggressive product launches and a low comparative base, according to Will Wong, Senior Research Manager at IDC.

In 3Q24, Samsung led global smartphone shipments with 57.8 million units, capturing 18.3% of the market share, although this marked a 2.8% YoY decline from 59.5 million units and 19.6% share.

The report noted that the company is continuing to increase its share in the premium segment, driven by higher average prices resulting from a stronger mix of Galaxy AI-enabled models. Samsung has begun rolling out Galaxy AI features to other devices and launched the new Galaxy Z Fold6 and Galaxy Z Flip6 foldables with Galaxy AI, enhancing its performance in the premium market.

Apple closely followed, shipping 56.0 million units for a 17.7% market share, reflecting a 3.5% increase from 54.1 million units and 17.8% share YoY. 

Regarding this increase, Nabila Popal, research director for Worldwide Client Devices, highlighted, “This growth was driven by strong demand for previous models and the launch of the new iPhone 16 lineup. In Q3 2024, older models like the iPhone 15 performed exceptionally well due to significant promotions and increased marketing around Apple Intelligence. Despite the staggered rollout of Apple Intelligence outside the U.S., Apple is poised for growth during the upcoming holiday season, as many customers are expected to upgrade from older models like the iPhone 13 and 12 to a new AI-enabled smartphone.”

In the third position, Xiaomi recorded shipments of 42.8 million units, holding a 13.5% market share, which was a slight rise of 3.3% from 41.5 million units and 13.6% share last year. OPPO shipped 28.8 million units, representing 9.1% of the market, up 5.9% from 27.2 million units and 8.9% share in Q3 2023. 

vivo experienced significant growth, shipping 27.0 million units, which accounted for 8.5% of the market—a remarkable 22.8% YoY increase from 22.0 million units and 7.2% share the previous year. Other companies collectively shipped 103.7 million units, maintaining a steady 32.8% market share, which was a 4.1% increase from 99.6 million units and 32.8% share in Q3 2023. 

Overall, total smartphone shipments reflected a 4% growth in 3Q24 from 303.9 million units in the same period last year.

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Shubha Mitra
Shubha Mitra
Shubha is a journalist at EFY. She is keenly interested in India's evolving electronics ecosystem. Her focus revolves around government policies, legislation, and public-private partnerships related to the industry.

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