According to the latest data released by the market research firm IDC on Sunday, Apple has experienced a significant 10% reduction in its smartphone shipments during the first quarter of 2024. This decline in sales has been attributed to the rising competition from various Android smartphone manufacturers who have been increasingly vying for market dominance.
In the international context, total smartphone shipments saw a rise of 7.8%, reaching a figure of 289.4 million units in the timeframe from January to March. During this period, Samsung achieved a 20.8% share of the global market, which allowed it to surpass Apple and reclaim the title of the number one smartphone manufacturer.
This downturn in shipments for Apple is particularly notable given the company’s impressive performance in the previous December quarter, wherein it had surpassed Samsung to become the world’s leading smartphone maker. However, with the recent developments, Apple has now slipped back to the second position, holding 17.3% of the market share. Meanwhile, Chinese smartphone brands, with Huawei being one example, have continued to expand their presence in the market.
Capturing the third slot in the market rankings is Xiaomi, another major player from China, which has secured a market share of 14.1% in the first quarter.
Samsung, hailing from South Korea, introduced its latest high-end smartphone series, the Galaxy S24, at the commencement of the year. Throughout the quarter, the company’s smartphone shipments exceeded 60 million units. Notably, the Galaxy S24 series has enjoyed a favorable reception, with global sales jumping 8% in comparison to last year’s Galaxy S23 series in the initial three weeks following their launch, as previously reported by the data analytics firm Counterpoint.
During the first quarter of 2024, Apple’s iPhone shipments saw a decrease to 50.1 million units, which is a decline from the 55.4 million units that were shipped during the same period the previous year. This data, provided by the IDC, points to a challenging phase for Apple, particularly in terms of its smartphone distribution.
In the last quarter of 2023, Apple’s smartphone market performance in China experienced a contraction of 2.1% compared to the year before. This slump is indicative of the increasing difficulties that Apple faces in China, which stands as its third-largest market. This situation has been compounded by the actions of some Chinese corporations and government entities that have begun to restrict employees from using Apple devices. Such measures reflect the actions taken by the U.S. government, which has imposed restrictions on Chinese apps citing security concerns.
Based in Cupertino, California, Apple is gearing up for its annual Worldwide Developers Conference (WWDC) set for June, where the company is expected to showcase the latest updates to its operating systems that power a plethora of devices, including iPhones, iPads, and other gadgets within the Apple ecosystem.
The investment community is keenly observing Apple for any fresh developments in artificial intelligence (AI) technology. So far, Apple has been relatively quiet about its plans to embed AI into its hardware lineup. This silence on AI innovation comes at a time when Apple, early in the year, surrendered its title as the world’s most valuable company to its tech-contender, Microsoft.
