According to statistics released on Sunday by research firm IDC, Apple experienced a nearly 10% decline in smartphone sales in the first quarter of 2024 due to heightened competition from Android smartphone manufacturers vying for the top spot, as reported by Reuters.
Between January and March, global smartphone shipments increased by 7.8% to 289.4 million devices, with Samsung surpassing Apple to become the leading phone maker with a 20.8% market share.
The significant sales drop for Apple follows a strong quarter where it overtook Samsung to claim the title of the world’s top phone manufacturer. However, with a 17.3% market share, Apple has now slipped to second place as Chinese companies like Huawei expand their market presence.
Xiaomi, one of the leading smartphone manufacturers in China, secured the third position in the first quarter with a 14.1% market share.
During the period, Samsung shipped over 60 million phones after the launch of its latest flagship smartphone range, the Galaxy S24 series, at the beginning of the year.
According to Counterpoint data, global smartphone sales increased by 8% within the first three weeks of the Galaxy S24 series’ release compared to the previous year’s Galaxy S23 series.
IDC reports that Apple delivered 50.1 million iPhones in the first quarter, down from 55.4 million units in the same period last year.
Apple’s smartphone shipments to China decreased by 2.1% in the last quarter of 2023 compared to a year earlier, highlighting the challenges the company faces in its third-largest market, where various Chinese businesses and government organizations restrict access to Apple devices, similar to American government restrictions on Chinese apps citing security concerns.
At its Worldwide Developers Conference (WWDC) in June, the Cupertino-based company is expected to showcase updates to software for iPhones, iPads, and other Apple products.
Investors are closely monitoring Apple’s advancements in artificial intelligence research, as the company has been relatively tight-lipped about its plans to integrate AI technology into its products.
Earlier this year, Microsoft surpassed Apple to become the world’s most valuable company.
