Samsung Crowned Leader Of Smartphones After iPhone Market Shares Drop 9.6%

Tech giant Samsung has retaken its position as the leader of the smartphone market after Apple’s iPhone fumbled with its market share this year.

The 9.6% YoY drop that iPhones’ market share witnessed during Q1 was disappointing for many in the company, to say the least. And that gave its South Korean rival to lead the market again even though they couldn’t increase their own respective shipments.

The Cupertino firm saw the biggest fall of any brand today and it’s shocking because the entire smartphone market is actually growing as a whole.

As per a recently published estimate by top firm IDC, the worldwide smartphone market rose by 7.8% in the previous quarter.

As a result, shipments for smartphones worldwide rose 7.8% around the globe to hit the 289.4 million mark during Q1 of 2024. Remember, this does not mean the industry is out of danger completely as plenty of leading changes still continue to threaten the economy across several markets. But it does mark the third time in a row that we’ve been able to witness growth in shipments which is another major proof about how recovery is still underway.

IDC’s intelligence mentioned how the great growth is giving rise to a massive amount of optimism across the board among those involved in the smartphone manufacturing industry. Meanwhile, small-scale brands are the true winners here as witnessed during the previous quarter.

Therefore, it’s a long road ahead for tech giants Apple and Samsung who have a lot of time to bounce forward and back to their leading positions.

While tech giant Apple still managed to capture the leading spot toward the end of 2023, we’ve seen South Korean tech giant Samsung reassert its position as the global smartphone leader during Q1 of 2024.
The IDC explained how both Apple and Samsung are said to maintain their stronghold across the high-end smartphone industry of today but that does not mean other tech giants are not doing well.

There’s a series of notable gains witnessed from companies like Transsion, Huawei, and Xiaomi, not to mention Oppo and Vivo. They are all trying to carry out their own expansion and diversify into the market where competition is tough but plenty of room for growth is present.

Therefore, as the industry recovers, we’re more likely now than ever to witness these top names attain a bigger share when compared to other smaller names who still struggle to maintain their leading position.

Coming back to Apple, shipments for its iPhones were seen in decline when compared to the previous year. These fell from 55 million to 50 million this year during the same quarter.

So the mix of news for Apple is a combination of good and bad when looking at trends emerging from the post-pandemic era. While customers are willing to buy these phones at higher prices, they do it to hold on to them for a longer period.

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