New York: In a significant milestone, American tech giant Apple has surpassed Samsung to become the world’s largest mobile phone manufacturer, claiming a market share of over 20% in 2023, as per data released by the International Data Corporation (IDC). Apple’s dominance is marked by shipping more than 234 million phones during the year, showcasing a growth trajectory amid a declining smartphone market.
Key Insights:
- Market Share Rankings:
- Apple: 20%
- Samsung: 19.4%
- Xiaomi and Oppo follow in third and fourth places.
- Global Smartphone Sales Decline:
- The IDC reports a decline in smartphone sales, hitting a decade-low with 1.2 billion units sold in 2023.
- This decline, a 3% drop from the previous year, reflects a challenging market.
- Apple’s Growth Strategy:
- Apple’s success is attributed to strategic initiatives such as trade-in offers for old models and interest-free financing plans, driving demand for premium devices.
- IDC Insights:
- Nabila Popal from the IDC notes, “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.”
- Despite regulatory challenges and competition from Huawei in China, Apple has demonstrated resilience.
- Challenges Faced by Samsung:
- Samsung faces a decline in demand for consumer electronics, impacting its standing as a leading manufacturer of memory cards, smartphones, and televisions.
- Increased competition from affordable Android brands like Xiaomi and Oppo contributes to Samsung’s challenges.
- Apple’s Competitive Response:
- In the Chinese market, Apple responds to challenges from Huawei and other budget-friendly brands by offering a 5% discount on select models, aiming to attract a broader customer base.
- Consumer Shift and Market Conditions:
- The change in rankings reflects a consumer shift from Android to iOS, driven by uncertainty and higher inflation in the market.
Apple’s ascent to the top spot comes at a crucial juncture, marking its ability to navigate challenges and sustain growth in a dynamic global market.
