Apple led the market with a record 50% share of global smartphone revenue, its highest-ever for a full year, a report has claimed, adding that the emerging markets, including India helped the company’s growth.
This comes as shipments of premium smartphones (more than $600, or approx. Rs 50,000) grew by 8% driven by foldables, features like GenAI and Apple even as global smartphone market revenues declined, as per a report by Counterpoint Research.
“Apple displaced Samsung as the biggest player in shipments for the first time in a full year.While the US made the biggest volume contribution to Apple’s growth, it also received a major boost through double digit growth in emerging markets including India, Caribbean and Latin America (CALA) and Middle East and Africa (MEA),” said research director Jeff Fieldhack.
“This growth offset any challenges Apple may have faced in China due to the resurgence of Huawei,” Fieldhack added.
For senior analyst Ivan Lam, Apple is facing competition from Huawei in the premium segment in China and offerings from multiple local OEMs are impacting iPhone 13 and 14 volumes.
Global smartphone market revenues decline
The market research firm said that the global smartphone market revenues declined by 2% to a little under $410 billion in 2023 compared with a 4% decline in shipments to 1.17 billion units. It added that there was a 2% growth in global smartphone ASPs which touched $350 for the first time.
“With an accompanying ASP growth of 2%, it can be seen to be in a revenue super cycle, buoyed by its ecosystem stickiness coupled with the premiumisation trend, crossing an annual revenue of $200 billion,” Fieldhack said.
This growth contributed to the ongoing premiumisation trend with one in every four smartphones shipped in 2023 wholesaling for more than $600, the market research firm noted, highlighting that this trend resulted in the non-premium segments experiencing double-digit declines.
Samsung loses top spot to Apple
Samsung, which has been the longstanding market leader in terms of shipments, suffered setbacks on multiple fronts, losing some share in premium markets to Apple. Its mid-tier phones also faced competition from Chinese OEMs such as Xiaomi and Vivo in markets such as India.
Major Chinese OEMs, other than Huawei and Honor, also suffered shipment as well as revenue declines in 2023. Vivo suffered a 16% revenue and a 12% shipment decline and Oppo’s revenue and shipment declines stood at 9% each.
This comes as shipments of premium smartphones (more than $600, or approx. Rs 50,000) grew by 8% driven by foldables, features like GenAI and Apple even as global smartphone market revenues declined, as per a report by Counterpoint Research.
“Apple displaced Samsung as the biggest player in shipments for the first time in a full year.While the US made the biggest volume contribution to Apple’s growth, it also received a major boost through double digit growth in emerging markets including India, Caribbean and Latin America (CALA) and Middle East and Africa (MEA),” said research director Jeff Fieldhack.
“This growth offset any challenges Apple may have faced in China due to the resurgence of Huawei,” Fieldhack added.
For senior analyst Ivan Lam, Apple is facing competition from Huawei in the premium segment in China and offerings from multiple local OEMs are impacting iPhone 13 and 14 volumes.
Global smartphone market revenues decline
The market research firm said that the global smartphone market revenues declined by 2% to a little under $410 billion in 2023 compared with a 4% decline in shipments to 1.17 billion units. It added that there was a 2% growth in global smartphone ASPs which touched $350 for the first time.
“With an accompanying ASP growth of 2%, it can be seen to be in a revenue super cycle, buoyed by its ecosystem stickiness coupled with the premiumisation trend, crossing an annual revenue of $200 billion,” Fieldhack said.
This growth contributed to the ongoing premiumisation trend with one in every four smartphones shipped in 2023 wholesaling for more than $600, the market research firm noted, highlighting that this trend resulted in the non-premium segments experiencing double-digit declines.
Samsung loses top spot to Apple
Samsung, which has been the longstanding market leader in terms of shipments, suffered setbacks on multiple fronts, losing some share in premium markets to Apple. Its mid-tier phones also faced competition from Chinese OEMs such as Xiaomi and Vivo in markets such as India.
Major Chinese OEMs, other than Huawei and Honor, also suffered shipment as well as revenue declines in 2023. Vivo suffered a 16% revenue and a 12% shipment decline and Oppo’s revenue and shipment declines stood at 9% each.
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