Google records its highest smartphone quarterly sales in Q3, 2024

Google

A new report by Counterpoint Research’s Smartphone 360 Tracker has confirmed that the global smartphone market grew 2% in the July-September or Q3 2024 period. This is the first year-on-year growth in a third quarter since Q3 2018 and the first since the post-Covid era. It is the market’s fourth consecutive quarter of growth, a testament to the ongoing market recovery.

The report also reveals that Motorola and Google recorded their highest-ever smartphone volumes in a quarter. However, in general, growth in smartphone sales volumes is slowing due to lengthening holding periods and a maturing consumer base. The report also mentions that despite these setbacks, consumers are willing to spend more than ever on new smartphones, which eventually is leading to growth in the industry.

Premium smartphone brands like Samsung and Apple retained the top two spots in Q3 2024, followed by Xiaomi, OPPO, and Vivo. Samsung led the market with a 19% global share, thanks to sustained A-series demand and better sales figures for the flagship S24 series. However, Samsung’s foldables received a lukewarm reception.

Apple’s sales also grew 1% in Q3 2024, and it established itself as the biggest brand globally in September, helped by the launch of the iPhone 16 series. Apple's success is further bolstered by the market's shift towards premium devices combined with the ongoing refresh cycle of smartphones purchased during the pandemic period.

The report adds that “One of four consumers buying a smartphone in 2024 will spend more than $600.” This segment is also expected to grow further with the introduction of new Gen-AI features.