Samsung Leads 2024 Q3 Semiconductor Revenue, Nvidia Ranks Seventh

In a recent report published by Counterpoint Research, data from the third quarter of 2024 revealed insights into semiconductor revenue, foundry market share, and smartphone application processor (AP) market share rankings. The findings highlighted that Samsung, SK hynix, and Qualcomm were the top three semiconductor companies in terms of revenue, while Nvidia ranked seventh. In the foundry sector, TSMC, Samsung, and SMIC held the top positions, and MediaTek, Qualcomm, and Apple remained the leading players in the global smartphone AP market share.

According to Counterpoint, Samsung maintained its position as the leader in the global semiconductor market during Q3 2024, though its market share declined slightly from 13% in Q2 2024 to 12.4%. This drop was attributed to lower-than-expected inventory valuation gains. SK hynix secured second place, with a 94% year-on-year increase in revenue, driven by strong demand for HBM, particularly from data center customers like Nvidia. Qualcomm ranked third, benefiting from steady growth in the automotive sector. The company remains optimistic about its smartphone business, having raised its Q1 2025 earnings forecast, while also noting a moderate recovery in the IoT space.

Intel continued to face challenges in Q3 2024, mainly due to the early-stage sales of its advanced chip manufacturing. However, its advanced packaging business now supports foundry revenues and contributes to the development of industry alliances, such as UCIe, which advance chiplet signal interconnect standards. Micron Technology ranked fifth, followed by Broadcom and Nvidia in sixth and seventh place, respectively, as both companies capitalized on widespread AI applications. Broadcom's AI revenue in Q3 2024 grew by 220%, and by year-end, it had more than doubled. Nvidia's data center revenue grew by 112% year-on-year, driven by modernization efforts to handle AI workloads and unprecedented demand for its H200 and Blackwell GPUs.

The top seven semiconductor companies in Q3 2024 accounted for approximately 46% of the total semiconductor market revenue, with companies from South Korea and the United States dominating the leaderboard.

In the foundry sector, TSMC exceeded expectations in Q3 2024, securing a 64% market share, bolstered by the high utilization of its N5 and N3 nodes, strong demand for AI accelerators, and seasonal smartphone sales. Samsung maintained its second-place position, with a 12% market share, benefiting from incremental gains from its 4nm and 5nm platforms. SMIC held third place, with a 6% market share, fueled by a recovery in demand from mainland China and strong momentum in mature nodes like 28nm. UMC and GlobalFoundries followed closely behind, each with a 5% market share.

In the smartphone AP market, MediaTek led the way in Q3 2024, commanding a 35% share of the smartphone SoC market. 5G shipments remained stable, while LTE chipset shipments saw an increase. The launch of the Dimensity 9400 is expected to boost MediaTek’s high-end product shipments. Qualcomm held a 25% share, benefiting from growth in the high-end segment, particularly driven by shipments of its Snapdragon 8 Gen 3 in the Galaxy Z Flip 6 and Fold 6 series. Additionally, strong design wins for Snapdragon 8 Gen 2 series chipsets from smartphone OEMs in mainland China contributed to the growth. Apple held a 17% share in Q3, with shipments increasing following the launch of its A18 chipsets, which included the A18 and A18 Pro models. UNISOC ranked fourth during the quarter.