Canalys reports a 5% year-over-year increase in global smartphone shipments for Q3, marking four consecutive quarters of growth. Despite economic recovery and improved consumer demand, rising costs and competition in the low-end market make the outlook for the latter half of the year cautiously optimistic. Canalys forecasts a 6% increase in global smartphone shipments to 1.22 billion units this year.
The high-end smartphone market (priced above $600) grew 15% year-over-year in Q3. Apple (AAPL, Financial) launched the iPhone 16 series, featuring Apple Intelligence, and increased its market share by 10% to 63%. Samsung’s launch of new Galaxy Z series foldable phones and the S24 AI flagship boosted its share by 22% to 21%. Huawei, Google, and Honor also showed significant growth.
AI smartphone penetration is expected to reach 17% this year and increase to 32% next year, driven by enhanced AI capabilities in flagship and mid-to-high-end devices.
