The global smartphone market grew 2% year-over-year (YoY) to reach 307 million units of shipments in quarter three (Q3) 2024. And, contracting its previous report, Counterpoint Research says it’s good news for Apple.
Global smartphone revenues grew 10% YoY as average sales prices (ASPs) grew 7%. Both revenues and ASPs reached their highest-ever Q3. Samsung continued to lead the market in terms of shipments, with a 19% volume share.
Apple led in terms of revenues and recorded its highest-ever shipments, revenues, and ASPs in a third quarter. Xiaomi came in third with revenue growth outpacing shipments growth, while OPPO captured #4. vivo grew the fastest YoY among the top five manufacturers.
Commenting on Apple’s performance, Counterpoint Research Director Jeff Fieldhack said, “A slightly earlier launch of the iPhone 16 series, a product mix increasingly favouring Pro versions and continued expansion in non-core markets drove Apple’s success in Q3. That said there is reason to remain cautious, the iPhone 16 series has seen mixed results across regions with sales in key markets like the USA down YoY compared to the 15 series. The large installed base of three- and four-year-old iOS devices is likely to keep a steady flow of iPhone 16 sales in the coming quarters–especially as Apple Intelligence features continue to roll out.”
