The introduction of Apple Inc.’s iPhone 12 family helped the smartphone giant overtake Samsung Electronics Co. Ltd. as the top smartphone vendor in the holiday quarter, according to Gartner, marking Apple’s first time holding down the top position in four years.
Overall smartphone sales in the fourth quarter dipped 5.4%, per the analysts. “Even as consumers remained cautious in their spending and held off on some discretionary purchases, 5G smartphones and pro-camera features encouraged some end users to purchase new smartphones or upgrade their current smartphones in the quarter,” Gartner Senior Research Director Anshul Gupta said in a release.
The analysts at Gartner expect that the growing availability of and demand for lower-end 5G smartphones outside of China will drive smartphone industry growth for 2021, following a 12.5% decline in smartphone sales during 2020.
Apple shares have gained 8.2% over the past three months as the Dow Jones Industrial Average
has risen 7.5%.