In May, we reported that Apple had announced its earnings results for the second quarter of 2024. Now, five months later, Apple’s smartphone, the iPhone, achieved record sales figures in the third quarter of 2024, according to Canalys. Data from Canalys indicates that the market share of the iPhone has been determined to be 18 percent, which is equal to that of Samsung. However, Samsung experienced a 3 percent decline in sales during this period.
While Samsung launched its new smartphones in July, Apple’s iPhone 16 series became available for purchase on September 13. This timing led to a surge in Apple’s sales within a very short period. According to the Canalys report, the initial sales of the iPhone 16 series fell below expectations, but the demand for previous models played a significant role in Apple’s success in the third quarter.
On the other hand, the market’s shift towards premium smartphones benefits Apple, particularly in strong markets such as North America and Europe.
Reports indicate that the global smartphone market recorded a 5 percent year-over-year growth in the third quarter. This growth marks the fourth consecutive quarter of increased sales. Analysts suggest that consumers are delaying upgrades, anticipating discount periods like Black Friday and China’s Singles Day on November 11.
During this heightened competition between Apple and Samsung, Apple’s strengthened market position is notable. High consumer demand reflects the popularity of the iPhone 15 and previous models. The 5 percent annual growth in the global smartphone market can be seen as a sign of economic recovery and increasing consumer confidence.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
