• Europe’s smartphone market continued to recover for the third consecutive quarter.
• Samsung and Apple’s bounce-back from a significantly low base in Q3 2023 helped drive growth.
• HONOR re-entered the top five after a strong performance in both Western and Eastern Europe.
• Economic recovery, coupled with a seasonal uptick in Q4, will likely sustain growth in the coming quarters.

London, Beijing, Buenos Aires, Fort Collins, Hong Kong, New Delhi, Seoul, Taipei, Tokyo – November 27, 2024

­Europe’s smartphone market continued its recovery for the third consecutive quarter in Q3 2024, registering 8% YoY shipment growth, according to Counterpoint Research’s Market Monitor Service. The recovery can be primarily attributed to sustained macroeconomic improvements reviving consumer demand, along with a return to relatively normal business for many OEMs after a poor 2023.

Commenting on the market scenario, Associate Director at Counterpoint Jan Stryjak said, “The growth for three consecutive quarters reiterates returning consumer confidence after a difficult 2023. However, due to some uncertainty around the availability of Apple Intelligence in EU markets, as well as the perception of a lack of significant upgrades in the iPhone 16 over the iPhone 15, Apple has not seen the upgrade super-cycle anticipated earlier in the year. Even though Apple’s Q3 2024 sales were up YoY, initial demand for the iPhone 16 was behind that for the iPhone 15 in 2023, which in turn limited YoY growth in Western Europe to only 2%. Meanwhile, Central and Eastern Europe registered 17% YoY growth, thanks to strong growth by Samsung, HONOR and Transsion sub-brands TECNO and itel.”

Commenting on the outlook for the rest of the year, Stryjak said, “We expect a traditionally strong end of the year driven by Black Friday and Christmas promotions. Some OEMs, like Google, have even started early with some significant deals. And with Apple Intelligence launching in the UK, Apple’s largest market in Europe, in December, Apple could be in for a successful end of the year. Other OEMs like Samsung, HONOR and Google should also see an uptick in sales in Q4, but the focus will likely remain on Apple.”

Market summary

• Samsung maintained its lead and grew 9% YoY, although this was largely off a very low base in Q3 2023. With both the Galaxy S24 FE and Galaxy A16 launching in October, Samsung should see further growth, but its market leadership will be challenged by Apple in Q4.

• Apple grew 10% YoY in Q3 2024, but again this was largely off a low base. Despite strong initial sales for the iPhone 16, demand has waned compared to the iPhone 15 last year. Nevertheless, Apple will challenge market leadership in Q4 as usual.

• Xiaomi declined 5% YoY in Europe, facing competition from Google and other Chinese OEMs in Western Europe, where it fell 17%. However, this decline was offset by its 2% growth in Central and Eastern Europe, where it retained market leadership despite strong growth from Samsung.

• realme grew 20% YoY driven by its continued strong performance in Southern and Eastern Europe. But it is under pressure from Google and HONOR in Western Europe and Transsion brands in Eastern Europe.

• HONOR’s ambitious plans for Europe are bearing fruit, with 30% YoY growth helping it retake the fifth spot from TECNO.

• Google has expanded its availability to new markets in 2024, such as Estonia, Finland, Hungary, Latvia, Lithuania, Romania, Slovakia and Slovenia. Against this backdrop, sales of its Pixel devices more than doubled YoY in Q3 2024. Google is an OEM to keep a close eye on in 2025.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

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