😯 Samsung No More The World's Largest Smartphone Seller!

Why did Samsung fall off the throne? Can it get back to the top anytime soon?

Apple has dethroned Samsung!

Yes, Samsung has fallen off from the throne of the global smartphone market!

Apple shipped 234.6 million smartphones in 2023. 

Samsung? 

226.6 million. 

The next best player, Xiaomi, shipped 145.9 million smartphones in 2023. 

This change in positions can be attributed to Q4 FY23 results.

Apple's smartphone shipments: 80.5 Mn

Samsung's smartphone shipments: 53 Mn

Xiaomi's smartphone shipments: 40.7 Mn 

In fact, now Apple has the highest market share (24.7%).

Yes, it has topped the chart for the first time since 2010!  

Meanwhile, Samsung saw a 13.6% decline in shipments, slipping to 16.3% market share! 

Why, you ask? 

Well, it is facing intense competition in China. 

Brands like Huawei, OnePlus, Honor and Google are launching similar devices at super competitive prices. 

Plus, China is making it difficult for Korean corporations to sell. Why? 

Let's go back in time to understand. 

Back in 2016, the US had set up Terminal High Altitude Area Defense (THAAD), a missile defense system, in South Korea to protect it from North Korea's nuclear and missile threats. 

But, China did not like this. 

It claimed that the system’s radar could detect China's missile launches. 

So, it attacked Korea indirectly.

How?

It made the Chinese market extremely competitive for Korean businesses. 

Result? 

Sales dropped by 13% since 2016! 

Now, Samsung's loss is Apple's gain. 

With rising disposable incomes, people are becoming more aspirational. 

Result? Demand for premium products is rising. 

This rising trend of premium devices makes up 20% of the global smartphone market. 

Plus, Apple is breaking all the barriers for people to own an iPhone. 

It offers interest-free financing (EMI) ptions, via which you can buy an iPhone now, and pay over time! 

Best part? 

Apple lets you exchange your old model with the latest iPhone models! 

Now, now. 

While Apple's performance looks impressive, the global smartphone market is not at its best.

It saw a 3.2% decline in overall smartphone shipments.

Why? 

High inflation, slow global economic recovery. 

And Apple has felt this too.

It is seeing declining demand in China, a major market. 

In fact, it saw a 30% YoY decline in iPhone sales in January 2024! 

Worst part? 

Apple is no more the world's most valuable company (check out about the most valuable company here)! 

Will Apple be able to navigate these challenges and stay at the top?

And will it be able to regain its position as the world's most valuable company? 

What do you think? 

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