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Apple Inc (Nasdaq: AAPL) opened in the red on Tuesday even after IDC said it shipped more smartphones than Samsung in 2023.

Apple is now the world’s top smartphone maker

The title of the world’s top smartphone maker sat with Samsung for thirteen years from 2010 to 2022.

But Apple Inc ended last year with 20.1% of the market – ahead of Samsung, as per data from the International Data Corporation.  

The iPhone maker shipped 234.6 million smartphones in 2023 including 80.5 million in the fourth quarter. The news arrives only days after Apple was reported to have lowered prices of its iPhones by 5.0% in China to boost demand in the midst of rising competition from Huawei and others.

AAPL is currently down about 8.0% versus its 52-week high.

Global smartphones shipments were down in 2023

The aforementioned data is significant particularly because global smartphone shipments in 2023 declined 3.2% to the lowest volume in about ten years. According to Nabila Popal – the research director of IDC:

 

Not only is Apple the only player in the top 3 to show positive growth annually, but also bags the number 1 spot annually for the first time ever.

Also on Tuesday, Ming-Chi Kuo – a TF International Securities analyst said Apple could launch its Vision Pro headset in markets other than the U.S. before its 2024 Worldwide Developers Conference.

Apple shares more information about the Cinema Environment for Apple Vision Pro.

"The Apple TV app also features the Cinema Environment, enabling viewers to transform any space into their personal theater. Users can even choose their favorite seat from the floor or balcony, and… pic.twitter.com/jqQREQ3Xsl

— M1 (@M1Astra) January 16, 2024

The tech behemoth will report its quarterly results on February 2^nd. Consensus is for it to earn $2.10 a share on $118.24 billion in revenue.

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