The International Data Corporation (IDC) reports that last year, the phone giant 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 pandemic.
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 interest 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 ascent
Nevertheless, Apple, which sold more than 234 million phones in 2017, was deemed “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,” Nabila Popal of the International Data Corporation said.
“All this despite facing increased regulatory challenges and renewed competition from Huawei in China, its largest market.”
After being prohibited from purchasing chips manufactured with US technology due to allegations that the company poses a national security risk to the US government, Huawei has recently made progress in producing its own chips.
Interest-free financing options and offers to trade in outdated models are also boosting demand for high-end gadgets like Apple.
Samsung decline
This is bad news for Samsung, which was the leading manufacturer of memory chips, smartphones, and televisions worldwide up until this point.
The giant of South Korean electronics recently issued a warning, stating that the weak global demand for consumer electronics would cause its profits to decline more than anticipated.
Additionally, it has competition from less expensive Android models like Xiaomi and Transsion, which are becoming more popular in emerging markets and among consumers who are price conscious.
According to IDC, there is a “very interesting time” ahead for the smartphone industry, as more Android providers enter the market and consumers prioritize foldable phones and AI capabilities.
