In the first quarter of 2024, Apple experienced a decline of approximately 10 per cent in smartphone shipments, as revealed by data from research firm IDC. This setback was attributed to heightened competition from Android smartphone manufacturers vying for the top position.
While global smartphone shipments increased by 7.8 per cent to reach 289.4 million units from January to March, Samsung emerged as the leading phone maker with a market share of 20.8 per cent, surpassing Apple.
This shift follows Apple’s impressive performance in the previous December quarter, during which it briefly claimed the title of the world’s No.1 phone maker.
Apple’s market share dropped to 17.3 per cent, relegating it to the second position, as Chinese brands like Huawei gained momentum. Xiaomi secured the third position with a market share of 14.1 per cent in the first quarter.
Samsung’s success was bolstered by the launch of its latest flagship smartphone lineup, the Galaxy S24 series, early in the year, resulting in shipments of over 60 million phones during the period. Global sales of Galaxy S24 smartphones demonstrated an 8 per cent increase compared to the previous year’s Galaxy S23 series, according to data from Counterpoint.
During the first quarter, Apple shipped 50.1 million iPhones, a decline from the 55.4 million units shipped during the same period last year.
In China, Apple faced a 2.1 per cent decrease in smartphone shipments in the final quarter of 2023 compared to the previous year. This decline underscores the challenges Apple encounters in its third-largest market, where some Chinese companies and government entities restrict the use of Apple devices among employees, similar to U.S. government restrictions on Chinese apps citing security concerns.
Looking ahead, Apple is set to hold its Worldwide Developers Conference (WWDC) in June, where it will showcase software updates for iPhones, iPads, and other devices. Investors are particularly interested in updates regarding artificial intelligence (AI) development at Apple, an area the company has not extensively addressed. Earlier this year, Apple relinquished its title as the world’s most valuable company to Microsoft.
