The market growth of some brands are driven by factors which include the adoption of improved technologies like 5G networks and sophisticated AI features in newer models. With numerous brands vying for attention, individuals seek a smartphone that offers the optimal blend of features and affordability.
This has created a dilemma for consumers, as they struggle to navigate the vast array of options. Consequently, mobile brands are facing fierce competition in the market, driving them to innovate, improve, and differentiate their products to stand out in the crowded market.
According to Canalys research, global smartphone shipments grew 5% year on year in Q3 2024, reaching 309.9 million units, the strongest Q3 performance since 2021.
Since Q3, 2022, the global smartphone market has been dominated by five brands with Samsung and Apple taking the largest market share.
According to Canalys, below are the top five smartphone markets in Q3, 2024;
| Rank | Phone Brand | Q3 2024 shipments(million) |
Q3 2024 Market Share |
|---|---|---|---|
|
1 |
Samsung |
57.5 |
19% |
|
2 |
Apple |
54.5 |
18% |
|
3 |
Xiaomi |
42.8 |
14% |
|
4 |
OPPO |
28.6 |
9% |
|
5 |
vivo |
27.2 |
9% |
The latest Canalys report reveals that the Asia-Pacific region led the way in smartphone market growth, expanding its global market share by 10% year-over-year (YoY) in Q3 2024. Latin America followed closely with a 9% growth, while China and Africa saw more modest increases of 4% and 2%, respectively.
There was a 1% growth in the North American market while the smartphone market share in the Middle East slumped by 1%.
