Connect with us

Hi, what are you looking for?

Electronics

Samsung outships Apple by 1% despite market drop.

Photo: Samsung

According to recent research, Samsung overtook Apple in smartphone shipment numbers in the first quarter of 2023 by 1%.

According to Counterpoint, Samsung shipped 60.6 million handsets in the quarter that ended in March, topping Apple’s 58 million. However, the Hong Kong-based corporation reported 280.2 million smartphone shipments in Q1 2023, down 14% year-over-year and 7% quarter-over-quarter.

Revenues fell 7% to $104 billion, a new low. Samsung led shipment quantities, while Apple led operating profits by 72% in the first quarter. Counterpoint said Apple took half of the market’s revenue, 31% ahead of its South Korean rival.

Counterpoint Research Director Jeff Fieldhack credited Apple’s resilience to consumer devotion. In addition, he claimed the company’s substantial position in the reconditioned market—over 50% of the sector—encourages buyers to avoid cheaper options and boosts its success.

“Apple can weather economic and other fluctuations better than its rivals while enjoying unwavering loyalty. “This also meant Apple was able to meet the demand for the iPhone 14 series, which spilled [sic] over Q4 2022, when it had problems at its Zhengzhou factory, rather than that share dissipating or transferring to rivals,” Fieldhack claimed. Catalyst predictions match Counterpoints.

On Thursday, Apple said it sold $51.3 billion of its flagship products in the March quarter. But the path ahead may be rough. Counterpoint analyst Tarun Pathak expects more decreasing quarters for several reasons.

“The smartphone market’s issues won’t go away soon. He also noted that OPEC’s latest oil output decrease may increase inflation and reduce consumers’ buying power.

Numerous smartphone market leaders have suffered from the industry-wide decline. For example, Samsung Mobile Division reported a 2% year-over-year revenue decline. Sluggish semiconductor demand cost Samsung 95% of its earningsQualcomm’s‘s shares dipped this week after it reported a 17% drop in smartphone processor sales year-over-year.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The future of technological innovation is here. Be the first to discover the latest advancements, insights, and reviews. Join us in shaping the future.
SUBSCRIBE

You May Also Like

AI

Nvidia has expanded its reach in China’s EV sector. Four Chinese electric car makers will utilize Nvidia’s technology to power autonomous driving systems, demonstrating...

Uncategorized

Two nonfiction writers filed a lawsuit against OpenAI and its financial supporter Microsoft (MSFT.O) on Friday in Manhattan federal court. They claim that the...

TECH

In a federal court case in California, shareholders sued Netflix (NFLX.O.), alleging that the streaming entertainment business concealed how much account-sharing was impeding its...

Crypto

A bankruptcy judge in the United States has given the go-ahead for Celsius Network, a cryptocurrency lender, to switch its focus to Bitcoin mining....