(Reuters) -Apple ended Samsung Electronics (KS:)’ 12-year run as the biggest vendor of smartphones on this planet, after commanding a 20% market share in 2023, in line with a report from Worldwide Knowledge Corp.

Samsung ended the yr with a 19.4% share, adopted by China’s Xiaomi (OTC:), Oppo and Transsion, preliminary information from IDC’s Worldwide Quarterly Cell Cellphone Tracker confirmed.

The change in rating comes after a tricky yr that noticed customers going sluggish on smartphone upgrades and selecting cheaper handsets on account of excessive inflation and financial uncertainties.

A slower-than-expected restoration in China, the world’s largest smartphone market, additionally weighed on total telephone gross sales.

Apple (NASDAQ:) and Transsion, which sells Tecno, Infinix and itel manufacturers, have been the one two of the highest 5 smartphone distributors to report gross sales development final yr, regardless that the general market declined 3.2% to 1.17 billion items and hit a decade low.

“Whereas we noticed some sturdy development from low-end Android gamers like Transsion and Xiaomi within the second half of 2023, stemming from fast development in rising markets, the most important winner is clearly Apple,” stated Nabila Popal, analysis director at IDC’s Worldwide Tracker group.

Cellphone shipments from Samsung have been down 13.6%, whereas iPhone shipments have been up 3.7% final yr, in line with IDC information.

Samsung targeted on the mid- to high-end section for profitability however misplaced share within the low-end section, stated Amber Liu of analysis agency Canalys.

Apple, nevertheless, is dealing with stress in China from a resurgent Huawei in addition to from price range Chinese language manufacturers. The iPhone maker is providing reductions of as a lot as 5% on some fashions within the nation to draw prospects.

Microsoft (NASDAQ:) on Friday overtook Apple because the world’s most beneficial public firm, as Wall Avenue grew extra involved over the demand for its iPhones and different high-end devices.