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According to data from research firm IDC, Apple experienced a significant decline of about 10% in smartphone shipments during the first quarter of 2024.
This drop was attributed to heightened competition from Android smartphone makers vying for the top position in the market.
Despite Apple’s decline, global smartphone shipments increased 7.8% to 289.4 million units from January to March. Samsung emerged as the top phone maker, surpassing Apple with a market share of 20.8%.
After surpassing Samsung in the previous quarter, Apple slipped back to the second spot with a market share of 17.3%.
Chinese brands like Huawei gained market share, contributing to Apple’s decline. Xiaomi secured the third position with a market share of 14.1%.
Samsung’s success was buoyed by the launch of its latest flagship smartphone lineup, the Galaxy S24 series, at the beginning of the year.
The company shipped over 60 million phones during the period, with the Galaxy S24 smartphones experiencing an 8% rise in sales compared to the previous year.
Apple faced challenges in China, with a 2.1% decline in smartphone shipments in the final quarter of 2023.
Restrictions imposed by Chinese companies and government agencies on the use of Apple devices contributed to this decline, reflecting similar measures the U.S. government took against Chinese apps on security grounds.
Investors eagerly anticipate updates from Apple’s Worldwide Developers Conference (WWDC) in June, where the company is expected to unveil software updates for iPhones, iPads, and other devices.
There is particular interest in Apple’s developments in artificial intelligence, which the company has been relatively silent about.
Apple’s loss of the title of the world’s most valuable company to Microsoft earlier this year adds to the scrutiny on its future strategies and innovations.
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