Highlights

  • Apple overtakes Samsung in market share.
  • Global smartphone sales decline, IDC reports.
  • Apple captures 20% market share.
  • Samsung faces competition, profit drops.

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Apple becomes biggest phone maker in the world, surpassing Samsung

Apple surpasses Samsung as the leader in the global smartphone market, securing over 20% market share amidst a worldwide sales slowdown, per IDC. Samsung struggles against budget Android rivals. Interest in foldable phones increases.

Apple becomes biggest phone maker in the world, surpassing Samsung

Recent trends in the global smartphone market have witnessed a pivotal shift. Apple, a longstanding powerhouse in the tech sector, has now emerged as the market share leader, overtaking Samsung for the first time in over a decade. This development occurs against the backdrop of a general slowdown in smartphone sales, as detailed in a report from the International Data Corporation (IDC).

Apple's Triumph

The IDC's data unveils a significant turn in the smartphone market. Apple has successfully secured over 20% of the global market, a noteworthy achievement that cements its status at the forefront of the industry.

This success is particularly striking given the overall decrease in smartphone sales, which the IDC associates with a post-pandemic decline in consumer expenditure. Apple's approach, involving trade-in promotions and zero-interest financing plans for high-end devices, seems to be effective, allowing it to defy the general trend of dwindling sales.

Samsung's Setback

In contrast, Samsung is experiencing a decline. Once the leading global manufacturer of memory chips, smartphones, and televisions, the South Korean tech behemoth is now contending with falling profits and increasing competition.

The IDC points out that Samsung's downturn is partially due to the emergence of more budget-friendly Android devices, like those from Xiaomi and Transsion, which are gaining popularity in cost-conscious and emerging markets.

Emergence of Foldable Phones

A notable trend in the smartphone arena is the escalating interest in foldable phones. The IDC observes that this segment is drawing increasing consumer attention, indicating a potential shift in future market trends. The incorporation of AI features in these devices is also noteworthy, suggesting a movement towards more technologically sophisticated and versatile smartphones.

Wrap Up

The current state of the smartphone market, as depicted by the IDC, presents a varied scenario. While Apple has adeptly navigated through economic challenges to rise as the new market leader, firms like Samsung are facing significant obstacles. Concurrently, the rising popularity of foldable phones and advanced functionalities points to intriguing future developments in the industry.

Also watch: Realme Note 50: Launch date, live Images and key specifications tipped


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