For the first time in 12 years, Apple overtakes Samsung
Apple now dominates the global smartphone market, knocking Samsung off the top spot for the first time in 12 years.
The US phone giant accounted for more than a fifth of phones shipped last year, according to data from the International Data Corporation (IDC).
Samsung took 19.4% of the market share with Chinese phone makers Xiaomi, OPPO and Transsion following.
IDC reports that almost 1.2 billion phones were sold last year – a drop of more than 3% compared to the previous year. This is the lowest amount sold in a decade, as many consumers are reluctant to change their phones in the face of economic challenges and high interest rates. Experts predict that the market will recover this year.
However, IDC said Apple – which sold more than 234 million phones last year – is the “biggest winner”.
Trade-in offers as well as interest-free financing plans are also driving demand for premium devices from the likes of Apple.
It’s disappointing news for Samsung, which – until now – held the top spot as the world’s largest maker of memory chips, smartphones and TVs.The South Korean electronics giant recently warned that its profits will fall more than expected as global demand for consumer electronics remains weak.
It’s also facing competition from cheaper Android models including Transsion and Xiaomi, which are getting a boost from both price-conscious consumers and emerging markets.
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