Apple Inc. (AAPL) products have been synonymous with innovation, sleek design, and approachable user interfaces for millions of users for multiple decades. It stands in third place, after only Walmart and Amazon, on the Fortune 500 List for 2021 of the largest U.S. companies by revenue.
Nonetheless, the company has its fair share of competitors. Given that Apple operates in the desktop, laptop, and tablet computer market and the smartphone market, it faces competition from an ever-growing array of peers and from a number of different sides.
And that's just for starters. The fact is, none of the big technology companies stay in their own corner these days. Is Apple also an entertainment company? You'd think so, given the presence of the hit streaming series Ted Lasso exclusively on Apple TV+. And that puts it in direct competition for eyeballs with Netflix, Disney+, Hulu, and Amazon, to name just a few.
- Apple appears in third place in the Fortune 500 list of the largest U.S. companies by revenue.
- Its share of the global personal computer market is 8.6%.
- It has a 14% share of the global smartphone market.
Many of Apple's primary competitors are manufacturers of personal computers. Apple certainly is listed on almost all of the many "top 10" lists for brands, but HP, Acer, Dell, Lenovo, and Toshiba all compete in this space.
In terms of global market share, Apple was in fourth place, at 8.6% as of the third quarter of 2021. Larger shares were claimed by Lenovo, at 23.7%, HP, at 20.9%, and Dell, at 18.1%.
Lenovo Group is headquartered in China but has its operational headquarters in North Carolina.
Its products include personal computers, mobile phones, and other electronics. In this way, Lenovo competes with Apple in many different product lines.
HP Inc. (HPQ) has a history dating back to 1939 as the original Hewlett-Packard Co. As such, it is considered the founding company of Silicon Valley.
In recent years, the company has focused on affordable consumer computing products. One of HP's strengths is its broad global presence, making it a particularly strong Apple competitor outside the U.S.
Dell Technologies (DVMT) is a manufacturer of desktop and mobile computing devices and one of Apple's primary competitors.
The rivalry between these two companies goes back many years, with Dell even attempting to corner some of Apple's share of the mobile music player market with its Dell DJ, an early competitor to the iPod.
Dell has participated in numerous acquisitions and other partnerships in recent years, though it does not offer smartphones.
Among the most significant Apple products is the iPhone. As in the computer space, Apple does not dominate the market.
In fact, Apple's worldwide share of the smartphone market is about 14% as of the third quarter of 2021. Samsung has 20% of the global market. The three other leading names are Chinese companies that are little known in the U.S.: Xiaomi, vivo, and OPPO.
Samsung is South Korea's biggest company. The Samsung Galaxy and Note series have been responsible for reductions in iPhone sales for many years.
Samsung has developed into one of the largest and most profitable companies, not only in Asia but worldwide.
There are many additional competitors which seek to target some segment of Apple's services or products. Further, because the technology field is always changing and growing, new companies frequently enter the fray.
With all of the competition, the consumer benefits from expanded innovation and lowered prices.