publive-image

Samsung Surges Ahead, iPhone Slips: Latest IDC Report Reveals Smartphone Market Trends

Samsung Electronics overtook Apple as the top smartphone supplier in the first quarter, with Chinese companies capturing the largest share of the global market, according to preliminary data from research firm International Data Corporation.

Global shipments of Apple smartphones fell 9.6% for the year to 50.1 million units, IDC said late Sunday in its quarterly tracking of smartphone shipments. Samsung shipments fell 0.7% to 60.1 million units, making it the No. 1 seller of smartphones globally.

Total smartphone shipments expanded in the third quarter, up 7.8% on the year to 289.4 million units, IDC said. Apple's market share fell to 17.3% from 20.7% a year earlier, while Samsung's fell from 22.5% to 20.8% as sales of Chinese companies Xiaomi and Transsion rose.

In the quarter, Xiaomi, the third largest smartphone shipment maker, saw sales rise almost 34% for the year to 40.8 million units, as Transitions shipments jumped 85% to 28.5 million in the third quarter, overtaking Oppo Vivo for fifth place.

IDC said the overall growth displays the recovery of the smartphone market is "going well" despite the difficult macroeconomic environment, and stressed that consumers are opting for more affordable smartphones. They'll keep their devices longer.

Apple's drop in the rankings came as it took over the top spot in global exports in the third quarter of 2023, with a growing line of premium devices, the company's strong business strategy and interest-free monetary policy helped.

Additionally, investors are eagerly awaiting new developments in the development of artificial intelligence (AI), a much-discussed area where Apple was relatively quiet earlier this year as Apple lost its position as the world’s most valuable company in front of Microsoft.