Apple Sees Record Q3 Smartphone Shipments Fueled by iPhone 16

Global smartphone shipments saw a notable 5% year-on-year increase in Q3 2024, reaching 309.9 million units, marking the strongest third-quarter performance since 2021, according to research firm Canalys.

Apple secured second place in global smartphone shipments for Q3 2024, with a record-breaking 54.5 million units shipped. This performance was largely attributed to the successful launch of the iPhone 16 series, particularly in emerging markets.

The narrowing hardware gap between the base and Pro models of the iPhone 16 series helped Apple appeal to a wider range of consumers, including those seeking premium features at a more accessible price point.

The company’s strategic production moves, including expanded manufacturing in India, significantly reduced lead times for new iPhones, allowing Apple to fulfill pre-orders more efficiently.

This shift not only helped boost local demand through competitive pricing but also enabled Apple to reclaim market share in key regions such as the U.S. and Europe. Supplementary production of older models like the iPhone 13 and iPhone 15 in India has further strengthened Apple’s presence in operator channels.

According to Canalys Analyst Le Xuan Chiew, Apple’s record Q3 performance is a result of a well-executed strategy involving both supply chain and channel optimizations.

Following key announcements at WWDC 2024, many consumers opted to upgrade from older iPhone models, such as the iPhone 12 and 13, to embrace new technologies introduced with the iPhone 16 series.

While Apple achieved remarkable success in Q3 2024, Samsung retained the top spot in global smartphone shipments, shipping 57.5 million units.

Samsung’s growth was driven by a streamlined entry-level lineup, which appealed to cost-conscious consumers. Xiaomi secured third place with 42.8 million units shipped, capturing a 14% market share.