Apple Surpasses Samsung to Become Global Leader in Smartphone Market
Apple has now claimed the dominant share of the global smartphone market, unseating Samsung from its top position for the first time in over a decade. According to data from the International Data Corporation (IDC), the American tech giant constituted more than 20% of the phones shipped last year.
In contrast, Samsung secured a market share of 19.4%, with Chinese smartphone manufacturers Xiaomi, OPPO, and Transsion trailing behind. The pandemic-induced slowdown in smartphone sales impacted the market, with nearly 1.2 billion smartphones sold, marking a decline of over 3% from the previous year. This figure represents the lowest sales volume in a decade, attributed to consumers tightening their spending amid economic challenges and high interest rates. However, industry experts anticipate a recovery in the market this year.
Despite the overall downturn, Apple emerged as the standout performer, selling over 234 million phones last year. The IDC hailed Apple as the “biggest winner,” being the only player in the top three to exhibit positive annual growth and securing the number one spot for the first time.
Even in the face of heightened regulatory challenges and renewed competition from Huawei in China, Apple’s resilience stood out. Huawei, barred from purchasing chips that utilized US technology over national security concerns, has made strides in developing its own chips.
Apple’s success can be attributed to factors such as trade-in offers for older models and interest-free financing plans, driving demand for premium devices. Meanwhile, Samsung, traditionally the world’s leading producer of memory chips, smartphones, and televisions, faces disappointing news with a projected drop in profits due to weak global demand for consumer electronics.
Samsung’s challenges are further compounded by competition from more affordable Android models, particularly from Transsion and Xiaomi. These brands are gaining traction among price-conscious consumers and in emerging markets.
The IDC emphasizes that the smartphone market is entering a “very interesting time,” characterized by a proliferation of Android providers diversifying the market. Consumers are increasingly prioritizing features like foldable phones and artificial intelligence capabilities.
