Samsung has struggled in the smartphone market over the past couple of years. After allowing Apple to edge past itself once last year, the South Korean firm won back the number one global smartphone ranking earlier this year thanks to robust Galaxy S24 sales. However, things are looking weaker again.
Samsung was the world's number-one smartphone brand in Q3 2024
According to the latest figures from market research firm Canalys, Samsung was the world's biggest smartphone brand. It shipped 57.5 million smartphones in the third quarter (Q3) of 2024, which is 2% lower than figures from last year (Q3 2023).
Samsung appears to be the only smartphone firm in the top five rankings to ship fewer phones than last year. Apple, which shipped 54.5 million iPhones in Q3 2024, ranked second. Its annual growth was 9%, which is higher than the global smartphone market's overall growth of 5%.
Xiaomi was the third-biggest smartphone brand during the same period. The Chinese brand shipped 42.8 million smartphones, which is 3% higher than the third quarter of last year. OPPO shipped 28.6 million smartphones, an 8% growth compared to the previous year. Vivo ranked fifth with 27.2 million shipments, a staggering 24% growth.
While smartphone sales were muted in Europe and North America, Southeast Asia and Latin America showed sales growth in the third quarter of this year. Analysts at Canalys remain “cautiously optimistic” for the fourth quarter of 2024.
The story continues after the video below.
Samsung will have a hard time selling its phones in the next two months, and it might have to offer attractive discounts and benefits to smartphone buyers during the upcoming festive shopping season. This is something the company already confirmed during its earnings call yesterday.
