On October 8, Patently Apple posted a report titled "Samsung Electronics Issues an Apology to investors for Disappointing Results." The report noted that "underperformance is particularly painful given its longstanding market leadership and the boom in spending on AI hardware." The disappointment has now extended to Q3-24 Global smartphone shipments wherein Apple tied Samsung for market share as the chart below reveals.  Samsung shipped 18% of smartphones in Q3, narrowly defending its pole position against Apple, whose iPhones made up 18% of shipments.

“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,” highlighted Runar Bjørhovde, Analyst at Canalys. “The ongoing strong demand for the iPhone 15 series, along with Apple’s legacy models, played a crucial role in its Q3 performance. The market’s shift towards premium devices, intersected by an ongoing refresh cycle of devices bought during the pandemic, is benefiting Apple, particularly in its strong-hold regions such as North America and Europe. Apple’s improved product diversification has helped it lower lead times. Despite a modest initial reception, the iPhone 16 is expected to help Apple maintain a strong finish to 2024 and help momentum in H1 2025, particularly as Apple Intelligence expands into new markets and supports additional languages.”

Overall, Latest research from Canalys shows that global smartphone shipments grew 5% year on year in Q3 2024, marking a fourth consecutive quarter of growth. The current growth is primarily driven by resilient demand in emerging economies alongside the early stages of a replacement cycle in North America, China and Europe.