Apple now has a large share of the global smartphone market, knocking Samsung off the top spot for the first time in 12 years.
The US phone company accounted for more than a fifth of phones shipped last year, according to data from the International Data Corporation (IDC).
Samsung grabbed 19.4% of the market share along with Chinese phone makers Xiaomi, OPPO and Transsion.
Smartphone sales have been missing as many were upgraded during the pandemic.
IDC reports that nearly 1.2 billion smartphones were sold last year — down more than 3 percent from the previous year. This is the lowest amount sold in a decade, with many consumers tightening their wallets amid economic challenges and high-interest rates. Experts say that the market will improve this year.
The rise of Apple
Still, IDC said Apple — which sold more than 234 million phones last year — “is the biggest winner.”
“Not only is Apple the only player in the top 3 to show positive year-on-year growth, it also takes the annual No. 1 spot for the first time,” said IDC’s Nabila Popal.
“All this despite facing mounting regulatory challenges and new competition from Huawei in China, its largest market.”
Huawei has recently stepped up production of its own chips, after the company posed a national security threat to Washington after being banned from buying chips made using American technology.
Interest-free financing plans along with trade-in offers on older models are also fueling demand for premium devices from the likes of Apple.
Lack of Samsung
It’s disappointing news for Samsung, which was – until now – the world’s largest maker of memory chips, smartphones and televisions.
Recently, the South Korean electronics giant warned that its profits will fall more than expected because of weak global demand for consumer electronics.
It also faces competition from cheaper Android models including the Transition and Xiaomi, which are gaining traction from both price-conscious consumers and emerging markets.
IDC also said the smartphone market is entering a “very exciting time,” with a growing number of Android vendors fragmenting the market and consumers increasingly preferring foldable phones and AI capabilities. have been.
