Tech

Apple may surpass Samsung to become global smartphone leader: Report

With the upcoming iPhone 15 series outperforming market expectations, Apple has a good chance of unseating Samsung from its long-held position as the global market leader, a new report has said.

According to the market intelligence company TrendForce, in the second quarter (Q2) of 2023, Samsung continued to lead in production rankings, delivering 53.9 million units, while Apple’s second quarter was the weakest in terms of production, delivering 42 million units.

However, Samsung suffered a 12.4 per cent (quarter-on-quarter) downturn, while Apple marked a 21.2 per cent dip from the preceding quarter.

Moreover, the report said that global smartphone production has faced back-to-back quarterly declines.

“After plunging nearly 20 per cent in 1Q23, second-quarter numbers dwindled further by approximately 6.6 per cent, settling at a modest 272 million units. The first half of 2023 clocked in at a mere 522 million units — marking a 13.3 per cent (year-on-year) decline and setting a ten-year low for both individual quarters and the first half of the year combined,” the researchers said.

“Demand in consumer markets such as China, Europe, and North America has not shown a significant rebound as we move into the second half of the year. Even if economic indicators in the Indian market improve, it is still difficult to reverse the global decline in smartphone production,” it added.

Further, the researchers predicted that the smartphone market may undergo another shift in Q2 this year due to poor global economic conditions, and production for the second half may consequently be further reduced.

Looking ahead to 2024, the current economic outlook is not optimistic, as per the report.

The researchers forecasted a 2 to 3 per cent annual increase in global production, depending on regional economic trends.

Also read: iPhone maker Foxconn plans to set up another factory near Bengaluru

IANS

Recent Posts

Baloch Yakjehti Committee releases documentary to honour Karima Baloch’s legacy

On the 4th death anniversary of human rights activist Karima Baloch, the Baloch Yakjehti Committee…

2 hours ago

EAM Jaishankar to visit US from December 24-29

External Affairs Minister S Jaishankar will visit the US from December 24-29 to discuss key…

2 hours ago

Balochistan: Medical students protest campus closure, security crackdown

Students at the Bolan Medical College (BMC) in Balochistan's Quetta entered the 27th day of…

3 hours ago

Climate change, health risks escalate amid surge in PoGB deforestation

The intensifying cutting of trees for firewood in Pakistan-occupied Gilgit-Baltistan (PoGB) is not only worsening…

4 hours ago

India’s retired judges, bureaucrats call for “immediate end” to attacks on minorities in open letter to Bangladesh

A group of retired judges, bureaucrats, Army officials and other civil society members have penned…

5 hours ago

Israel, Slovakia sign historic USD 582 million deal to boost Air Defense capabilities

Israel and Slovakia signed a 2 billion shekel (USD 582 million) agreement on Monday to…

5 hours ago