Apple (AAPL.O) has overtaken Samsung Electronics’ (005930.KS) with 20% of the market in 2023, according to International Data Corp.
The ranking change comes after a tough year when consumers hesitated to upgrade their smartphones due to high inflation and macroeconomic concerns. The recovery in China, the world’s largest smartphone market, also affected overall handset sales.
Apple and Transsion were the only of the top five brands to increase shipments last year, when the market fell 3.2 per cent to 1.17 billion units, hitting a decade low.
At the same time, Apple faces competition in China from local budget brands and a reviving Huawei. In a bid to attract Chinese buyers, the iPhone manufacturer is offering rare local discounts of up to 5 per cent on some models.
