CALIFORNIA: Apple has now secured the dominant share of the global smartphone market, displacing Samsung from its longstanding position at the top after a 12-year reign. The data from the International Data Corporation (IDC) reveals that the American tech giant claimed over 20% of the phones shipped last year. Samsung, now relegated to the second spot, captured 19.4% of the market share, with Chinese phone manufacturers Xiaomi, OPPO, and Transsion trailing closely behind.
The smartphone industry faced a decline in sales as consumer behavior shifted during the pandemic, leading to a decrease of over 3% in smartphone sales compared to the previous year. The IDC reports a total of nearly 1.2 billion smartphones sold last year, marking the lowest figure in a decade. Economic challenges and high interest rates prompted many consumers to be more frugal, impacting sales. However, experts anticipate a market recovery in the coming year.
Apple’s rise
Despite selling over 234 million phones last year, Apple has been declared “the biggest winner” by the IDC.
“Not only is Apple the only player in the Top 3 to show positive growth annually, but also bags the number 1 spot annually for the first time ever,” said the IDC’s Nabila Popal.
Huawei has recently advanced in the development of its proprietary chips, following restrictions on purchasing chips utilizing US technology due to allegations of the company posing a national security risk to Washington. The demand for premium devices such as Apple is further fueled by enticing options like trading in old models and interest-free financing plans.
Samsung slump
Samsung, formerly the leading global manufacturer of memory chips, smartphones, and televisions, faces disheartening news as the company anticipates a more substantial decline in profits than initially projected. The decline is attributed to sluggish global demand for consumer electronics. Additionally, Samsung is grappling with intensified competition from more affordable Android models, such as those offered by Transsion and Xiaomi, which are gaining traction among budget-conscious consumers and in emerging markets.
The International Data Corporation (IDC) notes that the smartphone market is entering a particularly noteworthy phase. A surge in Android providers is diversifying the market landscape, while consumers are increasingly prioritizing features such as foldable phones and artificial intelligence capabilities.
