Science & Tech · Gadgets & EVs · 5 hrs ago

Samsung and Apple gain smartphone share as Chinese brands face rising costs

Samsung and Apple gain smartphone share as Chinese brands face rising costs

Samsung and Apple now hold 45% of the global smartphone market, up eight percentage points from a year earlier, according to Omdia data for the third quarter.

Samsung leads with 23% and Apple is one point behind.

Higher component costs are squeezing Chinese brands such as Xiaomi, Oppo and Vivo, which rely more on lower-priced phones and have less room to raise prices.

Samsung and Apple have stronger supply chains and more ability to pass some costs on to buyers of premium phones.

The global market fell 20% in the third quarter, its biggest decline since 2013.

UBS expects shipments to fall 10% this year and 3% in 2027, while forecasting that Apple will sell 273 million phones in 2027, up 5%.

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