The global smartphone market had an eventful third quarter in 2024. As per a Counterpoint research report, the market saw growth in both the number of phones sold and the revenue earned. While there was only a 2 per cent increase in shipments as compared to last year, the revenue growth saw a rise of 10 per cent. Along with that, there was also a 7 per cent increase in the average price people are paying for smartphones.
Samsung retains top spot in shipments
Samsung remained the global leader in smartphone shipments. It accounted for 90 per cent of all phones sold worldwide. This indicates that nearly one in five smartphones purchased during the third quarter was Samsung. The company has a wide range of products, ranging from affordable phones to flagship phones. This helps the company in catering to diverse customer needs and maintain dominance in the market despite strong competition.
Apple rules the revenue department
While Samsung was the king of shipments, Apple emerged victorious in the revenue department. For Apple, it was the best-ever third quarter performance. Appel recorded its highest sales, revenue and average selling price. Despite being a premium smartphone brand, the results show that buyers are willing to pay premium for Apple devices
Xiaomi and OPPO also secure key positions
Xiaomi and Oppo also secured key positions in the third quarter. Xiaomi got the third place in the market. What played in its favour was its revenue growth, which outpaced the growth in the number of phones it sold. Oppo, on the other hand, secured fourth position despite facing stiff competition from the key players in the market.
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