Smartphone Market Recovery: Apple Gains Share and Q3 Growth Unfolds

Monday, 14 October 2024, 23:33

Smartphone shipments have surged 5%, showcasing remarkable Q3 growth as Apple gains market share. The Canalys report highlights a robust recovery prompted by strong iPhone 16 sales and increasing demand for premium models. Key players like Samsung race to adapt amidst evolving market dynamics.
Indiatimes
Smartphone Market Recovery: Apple Gains Share and Q3 Growth Unfolds

The latest Canalys report reveals that smartphone shipments grew by 5% in Q3, marking a sustained recovery in the smartphone market. This growth is largely attributed to persistent demand in emerging markets and the initiation of a replacement cycle in regions including North America, China, and Europe.

Factors Driving Q3 Growth

This quarter marks the fourth consecutive period of growth for the smartphone sector. Apple achieved record high shipments, largely propelled by the robust sales of its older models and demand for the new iPhone 16.

Impact on Major Players

  • Apple's aggressive market strategies have enabled it to gain share and secure a stronger position in the premium segment.
  • Samsung continues to compete for market share amidst a challenging landscape, adapting to new consumer preferences.

The market's recovery has also been driven by various artificial intelligence features integrated into devices, encouraging users to upgrade their smartphones after an extended period of stagnation.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Subscribe to our newsletter for the most reliable and up-to-date tech news. Stay informed and elevate your tech expertise effortlessly.

Subscribe