Global Smartphone Market Grows 2%, iPhone 16 Makes Apple the Biggest Brand in September

The global smartphone market grew 2 per cent in the July-September period, marking the first sequential year-on-year growth in a third quarter since Q3 2018, as Apple became the largest brand in September, helped by an early launch of the iPhone 16, according to a new report on Tuesday.

This marked the fourth successive quarter of growth for the global smartphone market; as per Smartphone 360 Tracker, it reflects the continued recovery of the market.
Apple sales went up by 1 percent in Q3, and the company had come out as the largest brand in the world in September with the help of iPhone 16's launch even though the sales were flat for the series of iPhone 16.

Consumer sentiment and macroeconomic factors continue to fare better than last year, resulting in this market staying stable in 2024 after recovering from the lowest sales in a decade. Most markets recovered in Q3 led by Western Europe, LATAM and Japan that all recorded double-digit YoY percentage growth.

All the smartphone players have benefited from the recovering market in 2024, and the top 10 brands have all consolidated share, said Research Director Tarun Pathak.
"Samsung and Apple retained the top two spots in Q3 2024, followed by Xiaomi, OPPO, and vivo. Samsung has maintained the leadership position with a 19% share, citing sustained A-series demand and better performance of the S24 series," adds Pathak.

"Even as the iPhone 16 series saw flat sales initially, we expect the demand for iPhone 16 series to remain stable due to the large installed base of iPhone users," he added.
Growth in smartphone sales volumes is slowing down because of lengthening holding periods and maturing consumer base.
However, consumers are spending more than ever on new smartphones, which has led to value growth within the industry, according to the report.

According to the report, "one of four consumers buying a smartphone in 2024 will spend more than $600. This is the segment where new technologies like Gen AI will make a difference."