NEW YORK : With a 20% market share in 2023, Apple overthrew Samsung’s 12-year reign as the world’s top smartphone vendor, according to a report by International Data Corp.

According to preliminary data from International Data Corp’s Worldwide Quarterly Mobile Phone Tracker, Samsung had a 19.4% market share at the end of the year, followed by China’s Xiaomi, Oppo, and Transsion.

The shift in the rankings follows a challenging year in which consumers delayed upgrading their smartphones and opted for less expensive models as a result of rising inflation and unstable economic conditions.

The world’s largest smartphone market, China, has seen a slower-than-expected rebound, which has had a negative impact on global phone sales.

Despite the fact that the market fell 3.2% to 1.17 billion units last year, marking a decade low, just two of the top five smartphone makers saw growth in sales: Apple and Transsion, which distributes the Tecno, Infinix, and itel brands.

“Apple is by far the biggest winner here, but we did see some strong growth from low-end Android players like Transsion and Xiaomi in the second half of 2023, which is a result of the rapid growth in emerging markets,” said Nabila Popal, research director of International Data Corp’s Worldwide Tracker team.

According to International Data Corp data, iPhone shipments increased 3.7% last year while Samsung phone shipments decreased 13.6%.

According to Amber Liu of research firm Canalys, Samsung lost market share in the low-end category while concentrating on the mid-to high-end segment for profitability.

But in China, low-cost Chinese manufacturers and a resurgent Huawei are putting pressure on Apple. In an effort to draw in customers, the manufacturer of iPhones is giving discounts of up to 5% on some models within the nation.

Microsoft surpassed Apple to become the most valuable publicly traded business in the world on Thursday, as Wall Street became increasingly anxious about the demand for the company’s iPhones and other high-end devices.

Topics #Apple Surpasses Samsung #largest smartphone market #Samsung's 12 #smartphone vendor