Apple achieves its best Q3 sales ever thanks to the iPhone 16

Key Takeaways

Apple’s Q3 sales saw a boost from the iPhone 16 launch as well as demand for older iPhones.
Consumers upgrading phones from the pandemic years is helping Apple’s sales.
The launch of Apple Intelligence could help Apple maintain its sales growth.

Apple’s iPhone 16 lineup debuted last month, and it has already helped give the Cupertino-based company its best Q3 sales ever. According to Canalys researchers, it’s estimated Apple claimed 18 percent of smartphone shipments in Q3 2024, a record for the company.

While the iPhone 16 was a major part of helping Apple achieve this, demand for Apple’s older iPhones like the iPhone 15 lineup and older iPhones have helped drive sales numbers. These numbers could alleviate concerns that Apple’s iPhone 16 lineup was not seeing demand like previous iPhones have.

Another factor benefiting Apple are consumers who bought phones during the pandemic a few years ago looking to upgrade. “The market’s shift towards premium devices, intersected by an ongoing refresh cycle of devices bought during the pandemic, is benefiting Apple,” said Runar Bjørhovde, an analyst at Canalys.

At an estimated 18 percent of smartphone shipments in Q3 2024, Apple is tied with Samsung’s share. The move is seen as a blow for Samsung, as the company was at 21 percent of smartphone shipments in Q3 2024, but has now seen a 3 percent drop. Apple’s market share went up before the launch of Apple Intelligence, the company’s new suite of AI features for its devices. Bjørhovde also said Apple Intelligence could help Apple “maintain a strong finish to 2024,” and help build momentum into next year.

The iPhone 16 offers nearly everything I want from a phone

Apple’s base iPhone is a solid, all-around device that really should feature a 120Hz refresh rate display.

Can Apple maintain its strong sales leading into 2025?

Apple Intelligence and the rumored refreshed iPhone SE could help

Apple's iPhone 16 beside the iPhone 16 Pro

Apple Intelligence could help Apple push even more iPhone 16s out the door than it already has once it finally launches. Apple Intelligence is initially launching in U.S. English with iOS 18.1, rumored to be launching on October 28. By the end of 2024, Apple Intelligence will be available in most localized English languages. In 2025, Apple Intelligence will be rolling out into new markets as it adds support for additional languages like Chinese, French, German and Japanese.

Going into next year, Apple will face more competition from Samsung, which is expected to launch the Galaxy S25 early next year. If Google repeats its same release schedule as this year, or launches even earlier, new Pixel phones may once again be releasing before Apple’s next iPhone lineup in the Fall of 2025.

Apple is also rumored to be releasing a refresh to its mid-range iPhone SE next year. This could help the company achieve even stronger sales with consumers looking to upgrade their older iPhone or enter the Apple ecosystem.

The numbers from Canalys for Q3 2024 are just preliminary estimates, but Apple will reveal its Q3 performance and earnings on October 31 after market close.