In the first quarter of 2024, Apple experienced a 10 per cent drop in smartphone shipments, facing tough competition from Android smartphone manufacturers. Data from research firm IDC revealed that global smartphone shipments grew by 7.8 per cent to 289.4 million units in the January-March period. Samsung emerged as the top phonemaker with a 20.8 per cent market share, surpassing Apple.
Following a strong performance in the December quarter, where Apple surpassed Samsung to become the world’s No.1 phone maker, the iPhone-maker slipped back to the second spot with a 17.3 per cent market share. Chinese brands like Huawei are gaining market share, contributing to Apple’s decline.
Xiaomi, a leading Chinese smartphone manufacturer, secured the third position with a market share of 14.1 per cent in the first quarter of the year.
Samsung, based in South Korea, launched its latest flagship smartphone lineup, the Galaxy S24 series, at the beginning of the year and shipped over 60 million phones during the period. Global sales of Galaxy S24 smartphones saw an 8 per cent increase compared to the previous year’s Galaxy S23 series in the first three weeks of availability, according to data provider Counterpoint.
Apple shipped 50.1 million iPhones in the first quarter, down from 55.4 million units in the same period last year, as reported by IDC. The company also saw a 2.1 per cent decrease in smartphone shipments in China in the final quarter of 2023 compared to the previous year.
The challenges for Apple in the Chinese market are further exacerbated by restrictions imposed by Chinese companies and government agencies on the use of Apple devices by employees, similar to US government restrictions on Chinese apps for security reasons.
Apple’s upcoming Worldwide Developers Conference (WWDC) in June will showcase software updates for iPhones, iPads, and other Apple devices. The event will be closely watched by investors for any announcements related to artificial intelligence development at Apple. Despite losing its title as the world’s most valuable company to Microsoft earlier this year, Apple’s focus on AI technology incorporation into its devices remains a key point of interest.