The iPhone topped the global smartphone market in 2023 hitting record high market share, according to new data from IDC. Apple accomplished this despite the overall market dropping 3.2%, notes the research group.
Global smartphone shipments declined year-over-year to 1.17 billion units in 2023, according to IDC. While this marks the lowest full-year volume in a decade, driven largely by macroeconomic challenges and elevated inventory early in the year, growth in the second half of the year has cemented the expected recovery for 2024, adds the research group. The fourth quarter (4Q23) saw 8.5% year-over-year growth and 326.1 million shipments, higher than the forecast of 7.3% growth.
Apple sold 235 million iPhones in 2023 for 20.1% market share. That compares to sales of 226 million and 18.8% market share in 2022.
“While we saw some strong growth from low-end Android players like Transsion and Xiaomi in the second half of 2023, stemming from rapid growth in emerging markets, the biggest winner is clearly Apple,” says Nabila Popal, research director with IDC’s Worldwide Tracker team. “Not only is Apple the only player in the Top 3 to show positive growth annually, but also bags the number 1 spot annually for the first time ever. All this despite facing increased regulatory challenges and renewed competition from Huawei in China, its largest market.
He adds that “Apple’s ongoing success and resilience is in large part due to the increasing trend of premium devices, which now represent over 20% of the market, fueled by aggressive trade-in offers and interest-free financing plans.”
Article provided with permission from AppleWorld.Today