Apple has registered 20 per cent growth in the global smartphone market from the first quarter of 2021 till the same period this year, a new report showed on Monday.
According to a report by Europe-based online shopping platform Burga, Apple is gaining ground in market share despite the company's smartphones mainly being considered expensive compared to competitors.
Amid the company's growth, the smartphone space is still faced with challenges, including component shortages, price inflation and the overall economic uncertainty resulting from the pandemic recovery.
"However, the company has significantly expanded its reach in recent years by exploring new opportunities like capitalizing on the growing used smartphones sector, especially across the emerging markets," said the report.
In the coming quarters, the smartphone market share will likely shift, depending on how the companies react to factors like semiconductor shortages.
Manufacturers that will adopt mitigation measures like designing in-house semiconductors will likely emerge on top, the report mentioned.
"Additionally, Apple continues to benefit significantly from specific markets like the United States, maintaining a lead by solid margins. The dominance in North America is from the increasing discretionary spending and introduction of 5G at lower price devices," it added.
Recently. Apple said it sold iPhones worth $50.6 billion in its March quarter -- a 5 per cent increase year-over-year -- despite global supply issues rising from the Russia-Ukraine war and China lockdowns.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)