For the first time in a 12-year period, Apple has surpassed Samsung to take the lead in the global smartphone market.
The International Data Corporation (IDC) reports that last year, the phone behemoth based in America accounted for over one-fifth of all phones shipped.
With Xiaomi, OPPO, and Transsion, three Chinese phone manufacturers, trailing Samsung, with 19.4% of the market.
Sales of smartphones have decreased because so many people upgraded during the outbreak.
Nearly 1.2 billion smartphones were sold last year, according to IDC, a decrease of more than 3% from the year before. Due to the economic downturn and rising loan rates, many consumers have tightened their purse strings, resulting in the lowest amount sold in a decade. Experts anticipate that this year will see a market recovery.
Apple‘s rise
Still, the 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 growth annually, but also bags the number 1 spot annually for the first time ever,” said the IDC’s Nabila Popal.
“All this despite facing increased regulatory challenges and renewed competition from Huawei in China, its largest market.”
Huawei has recently made strides in making its own chips, after being banned from buying chips that were made using US technology over claims the company poses a national security risk to Washington.
Offers to trade in old models as well as interest-free financing plans are also driving demand for premium devices like Apple.
Samsung slump
It’s disappointing news for Samsung which – until now – had the top spot as the world’s largest maker of memory chips, smartphones and televisions.
Recently, the South Korean electronics giant warned its profits would drop more than expected as global demand for consumer electronics remains weak.
It is also facing competition from cheaper Android models including Transsion and Xiaomi which are getting a boost from both price-savvy consumers and emerging markets.
The IDC also said the smartphone market is entering a “very interesting time”, with a growing number of Android-providers splintering the market and customers increasingly prioritising foldable phones and AI capabilities.
