Apple Inc.’s iPhone series clinched the top spot as the best-selling smartphone globally in 2023, ousting Samsung Electronics Co. for the first time since 2010 according to International Data Corporation.
According to the IDC, Samsung secured a 19.4% market share, with Chinese smartphone manufacturers Xiaomi, OPPO, and Transsion trailing behind.
Despite an industrywide slump in smartphone sales, exacerbated by pandemic-related challenges, Apple’s performance stood out.
The IDC noted that approximately 1.2 billion smartphones were sold in 2023, representing a more than 3% drop from the previous year, marking the lowest sales volume in a decade.
Economic uncertainties and elevated interest rates prompted consumers to exercise financial caution. Nonetheless, industry experts anticipate a recovery in the smartphone market this year.
Despite the overall downturn, Apple emerged as the standout performer, selling more than 234 million phones last year.
The IDC dubbed Apple as “the biggest winner,” emphasizing its positive annual growth and securing the number one spot for the first time.
Nabila Popal from the IDC remarked, “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.”
Apple’s success comes amid increased regulatory challenges and resurgent competition from Huawei in China, its largest market.
Huawei, facing restrictions on purchasing chips with U.S. technology, has ventured into producing its own chips.
Apple’s success can be attributed to various factors, including offers to trade in old models and interest-free financing plans, propelling demand for premium devices.
Meanwhile, Samsung, traditionally holding the top position as the world’s largest producer of memory chips, smartphones, and televisions, faces disappointing news as its profits are expected to drop amid weak global demand for consumer electronics.
The South Korean electronics giant confronts fierce competition from more affordable Android models, particularly from Transsion and Xiaomi, which are gaining traction among price-conscious consumers and emerging markets.
The IDC anticipates a transformative period in the smartphone market, emphasizing a growing number of Android providers diversifying the market.
Customers are increasingly prioritizing features such as foldable phones and AI capabilities, signaling an intriguing phase in the industry’s evolution.
