15-4-2024 (CALIFORNIA) Apple’s global smartphone shipments suffered a steep decline of around 10 percent in the first quarter of 2024, as the tech giant faced intensifying competition from ambitious Android manufacturers vying for the top spot, according to data released on Sunday by research firm IDC.
Worldwide smartphone shipments saw a 7.8 percent increase during the January-March period, totalling 289.4 million units. However, Samsung regained its position as the world’s leading phone maker with a 20.8 percent market share, relegating Apple back to second place with 17.3 percent.
The iPhone maker’s precipitous sales drop comes after a strong performance in the previous December quarter when it had briefly overtaken Samsung. Chinese brands like Huawei have been making decisive inroads, chipping away at Apple’s market dominance.
Xiaomi, one of China’s smartphone powerhouses, secured the third rank with a commendable 14.1 percent global market share during the first three months of 2024.
Samsung, buoyed by the launch of its latest flagship Galaxy S24 series at the start of the year, shipped over 60 million phones in the quarter. Data from Counterpoint revealed global sales of the Galaxy S24 smartphones jumped eight percent compared to last year’s Galaxy S23 lineup during their initial three-week availability period.
In contrast, Apple’s quarterly iPhone shipments declined from 55.4 million units in the same period last year to 50.1 million, as per IDC figures. The slump underscores Apple’s challenges in China, its third-largest market, where smartphone shipments contracted 2.1 percent year-on-year in the final quarter of 2023.
The downturn comes amid reports of some Chinese firms and government agencies restricting employees’ use of Apple devices, mirroring US government curbs on certain Chinese apps over security concerns.
Looking ahead, investors will closely monitor Apple’s annual Worldwide Developers Conference in June for potential updates on the company’s artificial intelligence endeavours. The tech behemoth has remained tight-lipped about incorporating AI technology into its devices so far.
The conference will also showcase software enhancements for iPhones, iPads and other Apple products. Notably, Apple recently ceded its long-held status as the world’s most valuable company to Microsoft amid the rapidly evolving tech landscape.
