Connect with us

Click here to join NNU for free and make money while reading news and getting updates daily.

Business

Samsung Displaces Apple, Tops Smartphone Market

Published

on


Samsung has once again emerged as the world’s leading smartphone vendor, surpassing Apple in the latest rankings as the global smartphone market shows signs of robust recovery.

According to a report released Monday by the International Data Corporation (IDC), Samsung’s strategic maneuvers enabled it to regain the top position amid competitive pressures from Chinese manufacturers.

In the first quarter of this year, worldwide smartphone shipments increased nearly 8 percent, totaling 289.4 million units.

This marks the third consecutive quarter of growth, suggesting a sustained recovery from previous market downturns. Samsung led with shipments of 60.1 million smartphones, capturing nearly 21 percent of the market share.

In contrast, Apple shipped 50.1 million iPhones, accounting for just over 17 percent of the global market.

Advertisement

The IDC report highlighted a 9.6 percent quarter-over-quarter decline in Apple’s shipments, while Samsung’s figures dipped by less than one percent.

The rise of Chinese brands remains a significant storyline, with Xiaomi and Transsion posting impressive gains.

Xiaomi’s shipments grew by about 33 percent to 40.8 million units, while Transsion saw a remarkable 85 percent increase to 28.5 million units, placing them third and fourth in the market, respectively.

Ryan Reith, vice president of IDC’s Worldwide Mobility and Consumer Device Trackers team, noted, “While Apple managed to capture the top spot at the end of 2023, Samsung successfully reasserted itself as the leading smartphone provider in the first quarter. We expect Samsung and Apple to continue dominating the high end of the market, while Chinese competitors seek to expand their sales.”

Nabila Popal, research director with IDC’s Worldwide Tracker team, commented on the shifting dynamics, stating, “There is a shift in power among the Top 5 companies, which will likely continue as market players adjust their strategies in a post-recovery world. Xiaomi is coming back strong from the large declines experienced over the past two years, and Transsion is becoming a stable presence in the Top 5 with aggressive growth in international markets.”

Advertisement

This evolving competitive landscape indicates a vibrant and rapidly changing smartphone market, where legacy brands and emerging players alike vie for consumer attention across diverse global markets.



&copy 2024 Naija News, a division of Polance Media Inc.



Source link: Naija News/

Continue Reading
Advertisement