- Written by Katie Silver
- business reporter
image source, Getty Images
Apple currently holds the largest share of the global smartphone market, knocking Samsung out of the top spot for the first time in 12 years.
The US mobile phone giant accounted for more than one-fifth of all mobile phones shipped last year, according to data from International Data Corporation (IDC).
Samsung gained 19.4% of the market share, followed by Chinese mobile phone makers Xiaomi, OPPO and Transsion.
Smartphone sales have slumped as many people upgraded during the pandemic.
IDC reports that around 1.2 billion smartphones were sold last year, down more than 3% year-on-year. Sales were the lowest in a decade as many consumers tightened their wallets in the face of economic challenges and high interest rates. Experts predict the market will recover this year.
the rise of apple
Still, IDC said Apple, which sold more than 234 million phones last year, was the “biggest winner.”
“Apple is not only the only company in the top three with positive growth every year, but it also holds the number one spot for the year for the first time ever,” said IDC’s Nabila Popal.
“All this is happening even as we face increasing regulatory challenges in our largest market, China, and new competition from Huawei.”
Huawei recently made the leap into manufacturing its own chips after being barred from purchasing chips made using American technology over claims that the company posed a national security risk to the U.S. government. ing.
Trade-in offers for older models and interest-free financing plans are also driving demand for premium devices like Apple’s.
samsung recession
This is disappointing news for Samsung, which has previously held the top spot as the world’s largest maker of memory chips, smartphones and televisions.
It also faces competition from cheaper Android models from the likes of Transsion and Xiaomi, which are getting a boost from both price-sensitive consumers and emerging markets.
IDC also said the smartphone market is going through a “very interesting time,” with a growing number of Android providers dividing the market and customers increasingly prioritizing foldable smartphones and AI features.