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Apple's upcoming iPhone 15 series could overtake Samsung in global smartphone market: Report

The global smartphone production industry has faced consecutive quarterly declines, with the second quarter of 2023 witnessing a 6.6 per cent drop, resulting in a total production of approximately 272 million units.

Saumya Nigam Edited By: Saumya Nigam @snigam04 New Delhi Published on: September 05, 2023 17:51 IST
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A recent report by market intelligence company TrendForce suggests that Apple's upcoming iPhone 15 series has the potential to challenge Samsung's long-standing position as the global market leader in smartphones. In the second quarter of 2023, Samsung maintained its lead in production rankings, delivering 53.9 million units, while Apple's production in the same period was relatively weaker, with 42 million units. However, both companies faced significant declines in production during this quarter, with Samsung experiencing a 12.4 per cent decrease compared to the previous quarter, and Apple marking a 21.2 per cent dip.

The global smartphone production industry has faced consecutive quarterly declines, with the second quarter of 2023 witnessing a 6.6 per cent drop, resulting in a total production of approximately 272 million units. The first half of 2023 saw a 13.3 per cent year-on-year decline, reaching a ten-year low for both individual quarters and the combined first half of the year.

Consumer demand in key markets such as China, Europe, and North America has not shown significant signs of recovery as the industry enters the second half of the year. Even if economic indicators improve in markets like India, it remains challenging to reverse the global decline in smartphone production.

The report predicts the possibility of further production reductions in the second half of the year due to poor global economic conditions. Looking ahead to 2024, the economic outlook remains uncertain, with the researchers forecasting a modest 2 to 3 per cent annual increase in global smartphone production, contingent on regional economic trends.

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Apple's potential to challenge Samsung's market leadership may hinge on the reception and performance of its iPhone 15 series, which is expected to be a significant factor in the smartphone market's future dynamics.

The competition between these tech giants continues to shape the global smartphone industry, with both companies striving to innovate and capture market share in an ever-evolving landscape.

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Inputs from IANS

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