Apple has pushed Samsung out of the top spot for the first time in 12 years, with the American giant accounting for more than a fifth of phones sold last year, according to data from the International Data Corporation (IDC), while Samsung took a 19.4% market share, followed by Chinese companies Xiaomi, Oppo and Transsion, on Wednesday the 17th of January, reports the British broadcaster BBC.
Global smartphone sales reached almost 1.2 billion last year, down by 3% from the previous year and the lowest in a decade, according to IDC. Economic problems have forced consumers to cut spending, but experts predict that the market will recover in the coming year.
Despite the fall in global smartphone sales,
Apple has emerged as the “biggest winner”, selling more than 234 million handsets last year, citing figures from IDC reports the BBC. This success comes despite regulatory challenges in Europe and increasing competition from Huawei in China.
Apple’s strategies, such as phone exchange offers and interest-free loan plans, are also boosting demand.
On the other hand, Samsung, until now the world’s leading manufacturer of memory chips, smartphones, and televisions, experienced a decline in the global smartphone market. Samsung recently reported lower-than-expected profits due to weak global demand, as per BBC.
Samsung is further challenged by increased competition from cheaper Android models, which attract consumers who are price-conscious and interested in the emerging market.
However, IDC has pointed to a shift in the smartphone market, with a growing number of Android providers splitting the market and consumers increasingly favouring foldable phones and artificial intelligence capabilities, reports the BBC.
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