Apple’s smartphone shipments experienced a 10% decline in Q1 2024, yielding the top spot to Samsung amidst heightened competition from Android manufacturers. With challenges in key markets like China, Apple faces pressure to innovate and address investor concerns regarding its AI development strategy.
15 April 2024 – According to data released by research firm IDC on Sunday, Apple’s smartphone shipments experienced a significant downturn of approximately 10% in the first quarter of 2024, primarily attributed to intensified competition from Android smartphone manufacturers vying for dominance in the market. Global smartphone shipments, however, saw a 7.8% increase, reaching 289.4 million units during January-March.
Samsung emerged as the leading phonemaker with a 20.8% market share, surpassing Apple and reclaiming the top spot. This reversal in fortunes follows Apple’s remarkable performance in the December quarter, where it briefly held the title of the world’s No.1 phone maker. Now relegated to the second position with a 17.3% market share, Apple faces growing competition from Chinese brands like Huawei, which are steadily gaining ground.
Xiaomi, a prominent Chinese smartphone manufacturer, secured the third position in the market with a 14.1% market share during the first quarter, further highlighting the increasingly competitive landscape.
Samsung’s latest flagship smartphone lineup, the Galaxy S24 series, launched earlier this year, contributed significantly to its success, shipping over 60 million units during the period. Data provider Counterpoint reported an 8% increase in global sales of Galaxy S24 smartphones compared to the previous year’s Galaxy S23 series during the initial three weeks of availability.
Apple, meanwhile, shipped 50.1 million iPhones in the first quarter, down from 55.4 million units shipped during the same period last year, as reported by IDC. The company also faced challenges in the Chinese market, with smartphone shipments shrinking by 2.1% in the final quarter of 2023 amidst restrictions imposed by Chinese companies and government agencies on the use of Apple devices.
Looking ahead, Apple is set to host its Worldwide Developers Conference (WWDC) in June, where it will unveil updates to the software powering its range of devices. Investors are keenly anticipating updates on Apple’s artificial intelligence (AI) development efforts, an area the company has thus far addressed sparingly. Earlier this year, Apple ceded its position as the world’s most valuable company to Microsoft. – Ref: Reuters
