Is Samsung the New King of Smartphones: How They Overtake Apple in Market Share?

Samsung Electronics has surpassed Apple as the top smartphone provider, and Chinese companies have gained a larger global market share.

Image source The Wall Street Journal

In the first quarter of this year, global shipments of Apple smartphones declined by 9.6% on year to 50.1 million units, whereas Samsung's shipments declined by 0.7% to 60.1 million units, making it the leading seller of smartphones worldwide.

The report highlighted the growing sales of Chinese companies Xiaomi and Transsion, which saw their shipments rise by 34% and 85%, respectively. Oppo also overtook Vivo to claim the fifth spot in the first quarter.

Image source Reuters

Despite challenging macroeconomic conditions, the IDC report showed that the overall growth of the smartphone market is "well underway." The trend of higher prices was also noted as consumers are opting for more expensive smartphones, knowing that they can hold on to their devices for a longer period.