Global Smartphone Market Trends: Samsung edges out Apple in a close Q3 2024

The global smartphone market saw a steady recovery in Q3 2024, achieving its strongest performance since the pandemic. Samsung narrowly retained its top spot, securing 18% of market share, while Apple nearly matched the same percentage due to strong iPhone 15 demand and increased sales of earlier models in regions like India. Xiaomi followed with a solid 14%, driven by its budget-friendly devices and brand presence.

Samsung’s small lead in Q3 2024 reflects its strategic focus on affordable and mid-range smartphones, helping it stay competitive in emerging markets, especially as Apple shifts toward premium models. Canalys anticipates Apple might overtake Samsung in Q4, supported by demand for the iPhone 16 and expanding Apple Intelligence technologies. Meanwhile, Chinese brands Xiaomi, Oppo, and Vivo are ramping up sales through strategies like budget lineups and market expansion across Southeast Asia.

Increased sales were observed in the Asia-Pacific and Latin America regions, with lower-cost devices and channel incentives playing a vital role. Looking ahead, Canalys expects the premium segment to grow in established markets, driven by high-tech, AI-capable devices from companies like Samsung, Apple, Vivo, and Honor, especially as they expand mid-range options and partnerships with local carriers.

The market outlook for 2025 remains cautiously optimistic, with companies eyeing innovations in AI and premium segments to capture growth as smartphone upgrades become more attractive globally.