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A Xiaomi store in Madrid, Spain. Photo: Bloomberg

Global smartphone shipments rose 4% in the third quarter to 316.1 million units, marking the fifth consecutive quarter of growth despite economic headwinds, according to research firm IDC.

Xiaomi held on to third place with 42.8 million units shipped. Oppo came in fourth with 28.8 million units, up nearly 6% year-on-year. Vivo completed the top five with the fastest growth, nearly 23%, to 27 million units.

Apple – facing intense competition in China – remains the “runner-up” with sales up 3.5% to 56 million units, corresponding to a market share of less than 18%.

The iPhone maker benefited from strong demand for older iPhone models and the newly released iPhone 16, according to Nabila Popal, research director for worldwide devices at IDC.

Apple's third-quarter sales were at a record high and have never been so close to the No. 1 position in the market, pointed out analyst Runar Bjørhovde of research firm Canalys.

Canalys estimates Apple’s market share at around 18%, just behind leader Samsung. The firm predicts the iPhone 16 will help the company build momentum into 2025, especially as Apple Intelligence expands into new markets and supports more languages.

Samsung was the only company in the top five to see a decline in sales, selling 57.8 million units in the period, down 2.8% from a year earlier, according to IDC.

The global smartphone market grew 5% and the gap between the top five manufacturers narrowed, showing increasing competition, according to Canalys analyst Le Xuan Chiew.

(According to SCMP)