Apple hits record-high third-quarter iPhone shipment volume
Latest research from Canalys shows that global smartphone shipments grew 5% year on year in Q3 2024, with Apple hitting record-high third-quarter iPhone shipment volume. This marks the fourth consecutive quarter of growth. The current growth is primarily driven by resilient demand in emerging economies alongside the early stages of a replacement cycle in North America, China and Europe.
Samsung shipped 18% of smartphones in Q3, basically tied with Apple, whose iPhones made up 18% of shipments. Xiaomi took 14% market share and maintained its position as the third largest smartphone vendor. OPPO reclaimed the fourth spot on the ranking table for the first time this year with 9% market share, supported by strong growth in India and Latin America. Completing the top five, vivo grew its shipments by double digits to make up 9% of the market.
“Apple achieved its highest third-quarter volume to date and has never been closer to leading the global smartphone market in a Q3 than now,” highlighted Runar Bjørhovde, analyst at Canalys, in a statement. “The ongoing strong demand for the iPhone 15 series, along with Apple’s legacy models, played a crucial role in its Q3 performance. The market’s shift towards premium devices, intersected by an ongoing refresh cycle of devices bought during the pandemic, is benefiting Apple, particularly in its strong-hold regions such as North America and Europe. Apple’s improved product diversification has helped it lower lead times. Despite a modest initial reception, the iPhone 16 is expected to help Apple maintain a strong finish to 2024 and help momentum in H1 2025, particularly as Apple Intelligence expands into new markets and supports additional languages.”
“The gap between the top five vendors has narrowed, intensifying the competitive landscape” commented Le Xuan Chiew, analyst at Canalys, in a statement. “Vendors are entering the holiday shopping season with solid momentum and cautious optimism, aiming to attract consumers who have postponed upgrading their devices in anticipation of deals during major events like 11.11 and Black Friday. However, the importance of effective resource planning cannot be overstated. While market conditions are improving, demand remains fragile as vendors face increasing global challenges in demand generation and regulatory hurdles, such as the EU’s eco-design directive. Effective supply chain management, maintaining healthy inventory levels, and optimizing sales and marketing fund allocation are becoming even more critical for market leadership.”
MacDailyNews Take: Record-high third-quarter iPhone shipment volume ought to bode well for Apple’s share price.
MacDailyNews Note: Apple is scheduled to release fiscal Q424 (calendar third quarter) earnings results and business updates on Thursday, October 31st. We’ll have the results for you on our homepage after the market closes for regular trading, right around 1:30 p.m. PT / 4:30 p.m. ET.
Apple will follow that with a conference call with analysts to discuss results and business updates at 2:00 p.m. PT / 5:00 p.m. ET. during which we will provide live notes.
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