Apple has replaced Samsung in the smartphone market worldwide for the first time in twelve years making for more than a fifth of phones delivered last year. International Figures Corporation (IDC) revealed these figures.
According to IDC, smartphone sales fell 3% last year to roughly 1.2 billion, the lowest in a decade. This is due to economic issues and high interest rates. However, experts expect that the market will recover this year.
However, Apple was the biggest winner, selling more than 234 million phones last year. According to IDC President Nabila Popal, Apple is the only player in the Top 3 to show positive growth annually. However, it also fills the number 1 spot annually for the first time.
All this happened despite high regulatory difficulties and renewed competition from Huawei in China, the large phone market. Huawei has made progress in making chips even though it isn’t allowed to use chips made in the US for national security reasons.
Interest-free loans and trade-in programs are making high-end devices like Apple more popular. It makes the business more competitive.
Samsung dominated the market with 19.4%, followed by Chinese phone giants Xiaomi, OPPO, and Transsion. Samsung, previously the world’s leading manufacturer of memory chips, cellphones, and televisions, has received dismal news.
South Korea’s electronics giant, Samsung, has warned that revenues may fall because of sluggish global consumer electronics demand and competition from lower-cost Android models such as Transsion and Xiaomi.
These brands are gaining traction among budget-conscious customers in new markets. The IDC expects a “very interesting time” in the smartphone market, with increased competition from Android carriers and a rising emphasis on foldable phones and artificial intelligence.
In a historic shift, Apple replaced Samsung to become the biggest smartphone market leader in the world for the first time in 12 years. Apple sold over 234 million phones. It is more than a fifth of the market share.
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