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iPhone 15 Tops Global Sales in Q3 2024, Samsung Claims the Most Spots in Best-Selling List

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Apple has once again solidified its dominance in the smartphone market, with its iPhone 15 series emerging as the top-selling smartphones globally in the third quarter of 2024. According to a report from market research firm Counterpoint Research, Apple claimed the top three positions in the global best-selling smartphone rankings, showcasing the strong demand for its latest devices. The iPhone 15 led the charge, followed closely by the iPhone 15 Pro Max and the iPhone 15 Pro, which secured the second and third spots, respectively.

The Cupertino-based tech giant’s impressive performance didn’t stop there. Apple managed to secure a total of four spots in the top 10 list, with the iPhone 14 also making a notable appearance in seventh place. This demonstrates Apple’s continued ability to attract a large customer base, even with older models, alongside the newer releases. The iPhone 15 series has been particularly popular, driven by its refined features, powerful performance, and enhanced camera capabilities.

Meanwhile, Samsung, the long-standing rival to Apple, also made its presence felt in the global smartphone race. Although Apple dominated the top spots, Samsung took the lead in the number of devices featured in the top 10 rankings. Notably, a Galaxy S device reentered the list for the first time since 2018, marking a significant milestone for the brand. Samsung’s flagship devices continue to appeal to Android users, thanks to their premium features, strong hardware, and consistent software updates.

Altogether, the top 10 best-selling smartphones accounted for 19% of the total global smartphone market, illustrating the intense competition in the industry. While Apple may lead in terms of individual models, Samsung’s consistent presence in the rankings suggests that the rivalry between the two tech giants remains as fierce as ever. With these trends in place, the remainder of 2024 will likely see continued innovation and strategic moves from both companies to maintain their positions in the highly competitive smartphone market.

Xiaomi Boosts EV Delivery Targets Amid Surging Demand

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Increased Goals Reflect Growing Market Success

Xiaomi Corp has raised its 2023 electric vehicle (EV) delivery target for the third time, now aiming to deliver 130,000 units of its debut SU7 sedan. This is a significant increase from its initial goal of 76,000 when the car launched in March.

The SU7, inspired by Porsche designs, has captivated buyers with a starting price below $30,000, undercutting Tesla’s Model 3 in China by $4,000. Xiaomi’s success reflects broader trends in China’s EV market, where electric and plug-in hybrid vehicles accounted for over half of October’s auto sales, a 56.7% year-on-year increase.

Scaling Production to Meet Demand

Xiaomi has ramped up production since June, doubling shifts at its factories and introducing the premium SU7 Ultra, priced above $110,000. The company’s manufacturing facilities now have a capacity of 20,000 units per month, with room for further growth.

President Lu Weibing highlighted Xiaomi’s continued investment in both hardware and software to support new models and autonomous driving technology.

Financial Performance and Market Position

In the third quarter, Xiaomi reported revenue of 92.5 billion yuan ($12.77 billion), surpassing analysts’ expectations of 91.1 billion yuan. However, its EV unit remains unprofitable, recording a loss of 1.5 billion yuan for the quarter, despite a 17.1% gross profit margin.

Xiaomi’s smartphone division remains a cornerstone of its business, maintaining its rank as the world’s third-largest smartphone maker with a 14% market share and 42.8 million units shipped in Q3.

The company’s adjusted net profit rose 4.4% to 6.25 billion yuan, exceeding market estimates of 5.92 billion yuan.

Future Projections and Market Expansion

Analysts at Huatai Securities forecast Xiaomi will deliver 400,000 EVs in 2025, with EV sales projected to contribute 20% of revenue, compared to 8% this year. To support growth, Xiaomi plans to expand its retail footprint in mainland China from 13,000 to 15,000 stores by year-end and to 20,000 by 2024.

The company’s strategic push into EVs demonstrates its ambition to diversify revenue streams and solidify its position in the competitive Chinese market.

CCI Withdraws Flipkart Antitrust Report Following Xiaomi’s Objection

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CCI Recalls Flipkart Antitrust Report Over Xiaomi Complaint
India’s Competition Commission of India (CCI) has retracted its investigation report on Walmart-owned Flipkart over alleged breaches of competition law. This marks the second instance of such a withdrawal by the antitrust regulator, following a similar action involving Apple in August. The move highlights the ongoing challenges faced by the CCI in balancing transparency with confidentiality in its probes.

Xiaomi’s Objection Over Confidentiality Breach
The recall follows a complaint by Chinese electronics giant Xiaomi, which argued that the report contained sensitive commercial information that should have been redacted. In September, Reuters revealed that the report had found Flipkart, certain affiliated sellers, and smartphone makers in violation of competition laws. Xiaomi claimed the document exposed business secrets, prompting the CCI to reassess its handling of confidential material.

Recipients Ordered to Destroy Report Copies
As per an internal CCI document dated October 1, the regulator has instructed all recipients of the Flipkart antitrust report to destroy their copies and provide an undertaking confirming compliance. This directive aims to prevent further distribution of the sensitive information while safeguarding the integrity of future investigations.

Implications for Antitrust Oversight in India
The recall underscores the growing complexity of antitrust enforcement in India, especially in cases involving global tech giants and their local operations. While the CCI seeks to hold firms accountable for anti-competitive practices, the need to protect proprietary data remains a critical concern. As high-profile cases like this unfold, the regulator may face increasing pressure to refine its protocols for handling and sharing investigation reports.