According to a report by International Data Corporation, Apple commanded a 20 percent market share in 2023, ending a 12-year run of Samsung Electronics in terms of the highest number of smartphone sales.
Samsung fell just short of Apple as it ended 2023 market shares at 19.4 percent, Chinese smartphone company Xiaomi, Oppo, and Trassion preliminary data from IDC’s Worldwide Quarterly Mobile Phone Tracker showed.
The overall change in the ranking after a long time came as a consequence of inflation economic uncertainty and instability internationally. Consumers opted for cheaper handsets because of inflation instead of upgrading and purchasing new and expensive smartphones.
China also witnessed slow market sales of smartphones in the previous year. China the biggest smartphone manufacturer in the world faced an overall lethargic consumer turnover in purchasing smartphones.
Apple and Transsion, which sells Tecno, Infinix, and itel brands, were the only two of the top five smartphone vendors to record sales growth last year, even though the overall market declined 3.2 percent to 1.17 billion units and hit a decade low.
“While we saw some strong growth from low-end Android players like Transsion and Xiaomi in the second half of 2023, stemming from rapid growth in emerging markets, the biggest winner is Apple,” said Nabila Popal, research director at IDC’s Worldwide Tracker team.