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.
The ascent of Apple
According to IDC, Apple remains “the biggest winner” despite selling over 234 million phones in the previous year.
“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,” stated Nabila Popal of the International Data Corporation.
“All this despite facing increased regulatory challenges and renewed competition from Huawei in China, its largest market.”
After being prohibited from purchasing chips produced with US technology due to allegations that the company poses a threat to Washington’s national security, Huawei has recently made progress in producing its chips.
Demand for high-end gadgets like Apple is also being driven by offers to trade in outdated models and interest-free financing plans.
Samsung’s slide
The news is disheartening for Samsung, which was the leading manufacturer of memory chips, smartphones, and televisions worldwide up until this point.
The massive South Korean electronics company recently issued a warning, stating that the weak global demand for consumer electronics would cause its profits to decline more than anticipated.
Additionally, it faces competition from less expensive Android models like Xiaomi and Transsion, which are becoming more and more popular in emerging markets as well as among consumers who are price conscious.
In addition, the IDC stated that consumers are placing a higher value on foldable phones and artificial intelligence (AI) capabilities, and that the smartphone market is entering a “very interesting time” due to the proliferation of Android app providers.
