Apple Inc. could have given again the title of largest U.S. public firm to Microsoft Corp., however it has simply picked up a special crown for the primary time.
The consumer-electronics firm was the the biggest smartphone vendor by shipments throughout 2023, in response to new knowledge from market researcher IDC. Apple
AAPL,
shipped 234.6 million units throughout the 12 months, per the information, forward of Samsung Electronics Co.
005930,
which shipped 226.6 million.
Apple has by no means earlier than held the highest spot, in response to IDC knowledge. And 2023 marked the primary time since 2010 that an organization aside from Samsung has occupied the place.
Read: Why Microsoft’s inventory is a greater funding than Apple’s
Apple’s ascent got here throughout a troublesome 12 months for the general smartphone market, as trade shipments on the entire dropped 3.2%. Apple posted 3.7% year-over-year progress, turning into the one one of many prime 4 cellphone makers to log a rise in shipments.
The firm noticed shipments rise 11.6% within the calendar fourth quarter because it simply led the market with 80.5 million items, in response to IDC. Samsung was second for the quarter with 53 million shipments, down 10.9%. Xiaomi and Transsion, two Chinese producers, took the No. 3 and No. 4 spots, with 40.7 million shipments (up 22.7%) and 28.2 million shipments (up 68.6), respectively.
“While we saw some strong growth from low-end Android players like Transsion and Xiaomi in the second half of 2023, stemming from rapid growth in emerging markets, the biggest winner is clearly Apple,” IDC analysis director Nabila Popal mentioned in a launch.
Apple will supply its personal view on the December quarter when it posts earnings after the shut of markets Feb. 1.
The firm’s good standing in IDC’s tables comes amid some investor concern about Apple’s positioning. Some on Wall Street are frightened about resurgent competitors from Huawei Technologies Co. and different producers in China, and Apple is planning a uncommon discounting occasion in that nation for the Lunar New Year vacation.
See extra: Apple’s resolution to low cost iPhones in China makes an announcement
Shares of Apple closed 1.2% decrease Tuesday and are off 4.6% to begin 2024. The firm now carries a $2.84 trillion market worth, having just lately slipped under Microsoft
MSFT,
which completed Tuesday’s buying and selling day with a $2.9 trillion valuation.
But IDC famous that Apple nonetheless has a robust place within the smartphone market. “Apple’s ongoing success and resilience is in large part due to the increasing trend of premium devices, which now represent over 20% of the market, fueled by aggressive trade-in offers and interest-free financing plans,” Popal mentioned.
Source web site: www.marketwatch.com
