From Nasdaq:

Apple Inc. (NASDAQ:AAPL) has taken over as the world’s biggest smartphone maker, replacing Samsung Electronics Co Ltd. in the top spot. This marks the first time that Apple has claimed the throne in the 17 years since launching the iPhone in 2007. Apple’s shipments increased 3.7% year-on-year in 2023 to 234.6 million units, beating Samsung’s 13.6% decline.

Apple’s rise to the top can be attributed to the company’s sustained performance despite a slowdown in the smartphone industry and the growing preference for premium devices. IDC research director Nabila Popal pointed out that Apple’s success is fueled by the increasing trend of premium devices, representing over 20% of the market, along with aggressive trade-in offers and interest-free financing plans.

This achievement comes amid a challenging macroeconomic environment where Apple has continued to see resilient iPhone shipments. However, there are concerns about the company’s future sales, particularly in China. Analysts predict a continued slide in iPhone sales in 2024, citing the Chinese ban on iPhones and increased competitive intensity from companies like Google and OnePlus. Additionally, Apple has received three downgrades in the first two weeks of 2024.



Read more: Bite Of The Big Apple: iPhone Secures Top Spot In 2023 Global Smartphone Shipments, Beats Samsung After 13 Years