By 2024, Apple is likely to be the world’s largest smartphone brand

Apple, one of the companies with the highest smartphone sales, may soon surpass all other smartphone manufacturers globally. Prior to its September product launches, prominent Apple analyst Ming-Chi Kuo predicted that the company’s stock price may recover.

By 2023–2024, according to Kuo, an analyst at TF International Securities, Apple may retake the title of top smartphone brand in the world. According to Kuo, Apple has a high 250 million iPhone shipping goal for 2024. In 2024, he predicts an increase in iPhone shipments of between 5 and 10% year over year. Because Apple has more optimistic growth projections than Samsung, he thinks Apple will continue to dominate the smartphone industry. Samsung has reduced the number of smartphones it will supply this year to 220 million.

Kuo went on to say that if Apple maintains current iPhone order levels for the second half of 2024, it may sell 220-225 million units in 2023, overtaking Samsung as the market leader in smartphones. Over time, it is predicted that this anticipated change in shipping ranking will be advantageous for Apple’s ecosystem.

Kuo responded to concerns that supply chain issues would affect the shipment of the iPhone 15 by stating that the iPhone 15 Pro Max will soon begin shipping in big quantities and that Apple is also increasing shipments of legacy models.

Kuo also noted that the market’s excessively pessimistic expectation for iPhone shipments in the second half of 2024 is to blame for the decline in Apple’s stock price. However, he thinks that there will soon be a chance for Apple’s stock to rebound because of the upcoming release of the iPhone 15 series and the supportive trading environment for new product introductions.

The California-based technology business is now preparing to host a major event next month to introduce its iPhone 15 series and Apple Watch 9 series. Apple may also unveil the M3-powered MacBook in October, according to expectations.