Apple has set a new record for iPhone sales during the third quarter of 2024, marking a significant milestone for the company as the global smartphone market continues its recovery. According to a report from Canalys, both Apple and Samsung each held an 18% market share, with Samsung narrowly holding onto its lead by a fraction.
Apple’s 18% market share reflects a 1% year-over-year improvement compared to Q3 2023, while Samsung saw a 3% decline in the same period. This comes despite Samsung launching its latest smartphones in July, giving it an early start to the quarter, whereas Apple’s iPhone 16 series only hit the market on September 13 — halfway through the final month of Q3.
Although initial sales of the iPhone 16 range have been reportedly lukewarm, the late release in Q3 might have worked to Apple's advantage, avoiding any sales lull. Canalys analysts still predict a strong end to 2024 for Apple, driven by the iPhone 16 series and Apple Intelligence, which is expected to carry momentum into the first half of 2025.
Apple’s third-quarter performance was fueled by strong demand for the iPhone 15 series, coupled with ongoing sales of legacy models. "Apple achieved its highest third-quarter volume to date and has never been closer to leading the global smartphone market in a Q3 than now," said Runar Bjorhovde, an analyst at Canalys. He added that the growing market for premium devices and the refresh cycle for devices purchased during the pandemic are boosting Apple's success, particularly in North America and Europe.
The global smartphone market as a whole grew by 5% year over year, making it the fourth consecutive quarter of growth. Analysts believe that many consumers may have postponed their device upgrades in anticipation of upcoming sales events like Black Friday and China’s Singles’ Day on November 11.
Apple’s ability to break records in a recovering market shows its dominance and continued appeal as the smartphone industry rebounds.