Apple dethrones Samsung as world’s top smartphone maker for 1st time since 2010

For the first time in more than a decade, Apple Inc. dethroned Samsung Electronics to become the best-selling smartphone company last year, according to a report by Bloomberg citing data from a research firm IDC. This comes as the iPhone accounted for a fifth of the global market with over 200 million shipments in 2023.

About the report

South Korea’s largest company, Samsung, witnessed a slump in shipments last year and stood at 226.6 million, according to IDC estimates. Meanwhile, Apple’s iPhone accounting for a fifth of the global market witnessed 235 million shipments in 2023 topping the list among smartphone makers.

Add WION as a Preferred Source

WATCH |Economy grows 5.2% in the October-December quarter

China’s Xiaomi Corp followed Samsung in the third spot. “While we saw some strong growth from low-end Android players like Transsion and Xiaomi in the second half of 2023, stemming from rapid growth in emerging markets, the biggest winner is clearly Apple,” said IDC’s Director Nabila Popal, as quoted by Bloomberg.

“All this despite facing increased regulatory challenges and renewed competition from Huawei in China, its largest market. Apple’s ongoing success and resilience is in large part due to the increasing trend of premium devices, which now represent over 20% of the market,” Popal added.

How did Apple manage to do this?

Apple has reportedly been dominating the holiday season for some years now but its surge ahead of Samsung over a full year is unprecedented and suggests that the United States-based company is handling the industry-wide slump better than its rivals.

ALSO READ |Apple implements rare iPhone 15 discounts in China amid demand uncertainty

Apple has also benefited from aggressive offers which have enticed users to shift towards a premium device and even managed to make it through a lukewarm welcome late last year for the iPhone 15 in China – one of its biggest international markets.

This comes amid a rise in the popularity of devices by Huawei Technologies Co. in China. The report also noted that while Apple was the only company in the top three to witness growth, the United States-based phone maker is not immune to the wider decline.

Apple’s bleak future in China?

iPhone sales in China dropped by 30 per cent in the first week of 2024, Jefferies analysts said in a note, as per Reuters. This drop has also been attributed to Huawei’s growing popularity.

ALSO READ |India invests $24 mn in lithium exploration: Boosting energy transition & bilateral ties with Argentina

However, the note published on Sunday (Jan 7)also said that a decline in Apple’s sales was the primary catalyst for an overall double-digit drop in China smartphone shipments for the first week this year.

While the Bloomberg report noted that the iPhone sales were driven by aggressive discounting, the note by Jefferies analysts said that this decline was despite the reduction in prices.

The 30 per cent drop represents an acceleration from the three per cent year-over-year decline Apple witnessed throughout the year in 2023 in its third-largest market, Jefferies said.

(With inputs from agencies)