Samsung pips Apple as global leader
Both the tech majors lead global smartphone mkt, log 96% of global operating profits
New Delhi: Apple and Samsung remain the most profitable brands, together capturing 96 per cent of global smartphone operating profits, a report showed on Friday. Samsung replaced Apple as the top global smartphone player in Q1 2023, driven by its mid-tier A Series and the recently launched S23 series, according to Counterpoint Research.
Apple’s shipment decline (year-on-year) was the least among the top five brands as the company recorded its highest-ever Q1 share of 21 per cent.
Globally, the smartphone market faced further contraction in the March quarter with shipments declining by 14 per cent YoY and seven per cent (on-quarter) to 280.2 million units in Q1 2023, according to the latest research from Counterpoint’s Market Monitor service.
“Smartphone shipments declined further in Q1 2023 following the weakest holiday-season quarter since 2013, as the slower-than-expected recovery in China was marred by alarming bank failures on both sides of the Atlantic further weakening consumer confidence in the face of unrelenting market volatility,” said senior analyst Harmeet Singh Walia.
