According to figures from the International figures Corporation (IDC), Apple overtook Samsung to claim the lead in the worldwide smartphone market for the first time in 12 years, accounting for more than a fifth of phones delivered last year.
According to the BBC, Samsung held a 19.4% market share, with Chinese phone manufacturers Xiaomi, OPPO, and Transsion trailing behind.
With almost 1.2 billion smartphones shipped last year—the fewest in a decade—the IDC forecasts a 3% decline in smartphone sales. This is because of the difficult economic conditions and high interest rates; analysts anticipate that the market will rebound this year.
That being said, Apple was the “biggest winner” according to IDC, having sold over 234 million phones in 2018.
“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,” Nabila Popal of the International Data Corporation stated.
“All this despite facing increased regulatory challenges and renewed competition from Huawei in China, its largest market.”
After being prohibited from supplying chips created in the US owing to national security concerns, Huawei has advanced in the production of its processors.
The demand for high-end devices like Apple products is being driven by interest-free financing programs and trade-in deals, which is increasing the company’s competitiveness.
Disappointing news has been delivered to Samsung, which was formerly the biggest producer of memory chips, cellphones, and televisions worldwide.
The massive South Korean electronics company Samsung has issued a warning that lower worldwide demand for consumer devices could result in lower profitability.
