With the global smartphone market contracting significantly due to sluggish demand following an economic downturn, Apple is expected to surpass Samsung Electronics in terms of market share in the fourth quarter of this year, said market researcher TrendForce on Dec. 8.
TrendForce said that global smartphone shipments in the third quarter of this year stood at 289 million units, down 0.9 percent from the previous quarter and 11 percent from the same period of 2021. Its outlook on the market for the fourth quarter is not bright, either. TrendForce projected global smartphone shipments to reach 316 million units in the fourth quarter. Compared to the third quarter, the figure represented an increase of 9.3 percent, but it is lower than in the same period last year.
By company, Samsung Electronics’ market share is expected to dip from 22.2 percent in the third quarter to 20.2 percent in the fourth quarter. On the other hand, Apple’s market share is expected to soar from 17.6 percent in the third quarter to 24.6 percent in the fourth quarter, overtaking Samsung Electronics to take the top spot.
Samsung Electronics shipped 64.2 million units in the third quarter, logging a mere 3.9 percent increase from the previous quarter. This is attributable to reducing production after the second quarter and maintaining a conservative outlook on future market conditions. Continued inventory pressure is expected to further decrease shipments in the fourth quarter.
Apple shipped 50.8 million units in the third quarter, showing a solid growth trend. Demand for the iPhone 14 series is expected to continue in the fourth quarter.
China’s Xiaomi, Oppo and Vivo, which ranked 3rd to 5th, are all expected to lose market shares in the fourth quarter. TrendForce forecasts that the Chinese smartphone makers will face significant difficulties in the future due to shrinking demand in China’s local market and slow economic growth in India.
