The summer shopping period in China has been good for the smartphone industry, with shipments increasing by 4% compared to the previous year, reaching 69.1 million units in Q3 2024, as stated in a Canalys report.
Market Dynamics Shift
The more significant news is the changing landscape of market leadership. Homegrown brands like Vivo and Huawei have improved their standings, pushing Apple down to the bottom of the top five rankings.
Vivo's Continued Success
For Q3 2024, Vivo has once again taken the lead in smartphone shipments, recording a 3% increase from the last quarter. Canalys attributed this rise to the launch of mid-range products that enhanced both online and offline sales. Their shipments rose 25% year-on-year, totaling 13 million units and capturing a strong 19% market share.
Huawei's Resurgence
Meanwhile, Huawei has made a notable comeback, moving up to second place with 10.8 million units shipped, which gives them a 16% market share. This marks a 24% growth from the previous year, credited to a proactive channel strategy that effectively supported their flagship products.
Honor Faces Challenges
On the other hand, Honor, despite the buzz around its new foldable devices, encountered difficulties and experienced a 13% drop in shipments from last year, placing them in third with 10.3 million units.
Xiaomi's Performance
Xiaomi managed to clinch fourth place with 10.2 million units shipped and a 15% market share, thanks to their “Human x Car x Home” ecosystem approach, as indicated in the report.
Apple's Decline
Apple, however, saw a 6% decrease in shipments year on year. They maintained their fifth position, but Canalys warns that the absence of Apple Intelligence services in the iPhone 16 series may hinder future growth.
Global Trends
Furthermore, Apple seems to be falling behind globally as well. In Canalys' report for smartphone shipments in India for Q3 2024, Vivo topped the list, while Apple didn't even make it into the top five.
