Global Smartphone Sales Rise 2% in Q3 2024; Apple (AAPL) Leads in Revenue

Dec 05, 2024

According to Counterpoint Research, global smartphone sales in the third quarter of 2024 increased by 2% year-over-year, marking the first Q3 growth since 2018. Latin America, Western Europe, and Japan saw the highest growth rates. Samsung and Apple (AAPL, Financial) maintained stable year-over-year sales, with Apple becoming the top-selling brand in September due to the early release of the iPhone 16.

Motorola and Huawei led market growth outside the top five, with nearly 30% sales increase. Motorola and Google (GOOGL) recorded their highest-ever quarterly sales. The global smartphone market shipped 307 million units, with revenue up 10% and average selling price rising 7%, both hitting record highs.

Samsung led in shipments with a 19% market share, while Apple led in revenue, setting records for Q3 shipments, revenue, and average selling price. Xiaomi ranked third, and OPPO fourth, with Vivo showing the fastest growth among the top five brands.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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