For over a decade, Samsung, the leading chaebol in South Korea, held the title of the world's top smartphone seller, surpassing Apple. However, in a significant shift, Apple overtook Samsung in 2023, claiming a 20.1% share of the global smartphone market for the first time in 12 years.
The decline in Samsung's smartphone shipments by 3.2% in 2023, totaling 1.17 billion units, was attributed to consumer reluctance to upgrade amid rising inflation. Additionally, Samsung faced internal challenges, notably involving its executive chairman, Lee Jae-yong, who was embroiled in bribery and financial crime scandals.
