American technology company Apple will return to the top of the global smartphone market this year for the first time in more than a decade, replacing its South Korean competitor Samsung. This is according to a forecast by analytics company Counterpoint. According to the company, Apple will maintain its leading position until 2029. This was reported by Bloomberg.
Growth in iPhone sales is driving the entire market
Counterpoint expects Apple to increase sales of its iPhone smartphones by 10 percent this year, while sales of rival Samsung smartphones are expected to increase by 4.6 percent, according to its forecast. The company also predicted that the entire smartphone market will grow by 3.3 percent this year.
Apple is now benefiting from strong demand for its new line of iPhone smartphones, which it unveiled on September 9. The company was last the global leader in the smartphone market in 2011, Bloomberg noted.
Cyclical device replacement supports Apple’s growth
Counterpoint expects Apple’s share of the smartphone market to reach 19.4 percent this year. According to the company, Apple is benefiting not only from the favorable reception of the new iPhone 17 series, but also from the cyclical replacement of older phones with new devices.
“Consumers who bought smartphones during the Covid-19-driven surge in demand are now entering a phase of transition to more modern devices,” said Counterpoint analyst Jang Wang. “In addition, 358 million second-year iPhones were sold between 2023 and the second quarter of this year. It is likely that these consumers will purchase a new iPhone in the future,” he added.
Source: ÄŒTK
