Apple Inc (NASDAQ:AAPL, ETR:APC) has clinched a victory in the global smartphone market, making it the first company other than Samsung Electronics (KRX:005930) to have claimed the top spot since 2010.
In 2023, Apple Inc (NASDAQ:AAPL, ETR:APC) emerged as the market leader, driven by a record-high market share and marking its first time in pole position.
Apple's share of the global market for smartphones rose to 20.1% in the fourth quarter of 2023, surpassing Samsung's 19.4% share for the first time.
According to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, global smartphone shipments declined 3.2% year over year to 1.17 billion units in 2023.
This marked the lowest full-year volume in a decade, largely due to macroeconomic challenges and elevated inventory early in the year.
However, growth in the second half of the year has set the stage for an anticipated market recovery in 2024.
During the fourth quarter of 2023, the industry recorded 8.5% year-over-year growth and 326.1 million shipments, surpassing forecasts of 7.3% growth.
Despite overall market decline, Apple emerged as the biggest winner, according to Nabila Popal, research director with IDC’s Worldwide Tracker team.
“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,” said Popal.
This success comes despite increased regulatory challenges and renewed competition from Huawei in China, Apple’s largest market.
The increasing trend of premium devices, which now represent over 20% of the market, has also contributed to Apple’s ongoing resilience.
“Apple certainly played a part in Samsung’s drop in rank, but the overall Android space is diversifying within itself,” said Ryan Reith, group vice president with IDC’s Worldwide Mobility and Consumer Device Trackers.
The IDC said that brands like OnePlus, Honor, Google, and others are launching competitive devices in the lower price range of the high-end and foldable smartphone market.
In the future, its researchers expect that AI capabilities will continue to gain traction, after a shift in the rankings that they said underscores the intensity of competition within the smartphone market.