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.