Global smartphone shipments experienced a decline of approximately 10% in the initial quarter of 2024, attributed to heightened competition among Android smartphone manufacturers vying for dominance, according to data from research firm IDC released on Sunday.
During the period spanning January to March, worldwide smartphone shipments saw a modest increase of 7.8%, reaching a total of 289.4 million units. Samsung emerged as the frontrunner, capturing 20.8% of the market share, thus dethroning Apple from its top position as the leading phonemaker.
Apple, renowned for its iPhone lineup, witnessed a notable decline in sales following a robust performance in the preceding December quarter when it surpassed Samsung to claim the title of the world’s No.1 phone maker. However, its market share plummeted to 17.3%, relegating it to the second spot as Chinese brands like Huawei gained traction.
Xiaomi, a prominent player in China’s smartphone market, secured the third position with a market share of 14.1% during the first quarter.
Samsung, hailing from South Korea, bolstered its position with the launch of its latest flagship smartphone series, the Galaxy S24 lineup, early in the year. The company managed to ship over 60 million phones during the period under review.
Sales figures for the Galaxy S24 series demonstrated a noteworthy 8% increase compared to the preceding year’s Galaxy S23 series within the first three weeks of availability, as indicated by data provider Counterpoint.
Conversely, Apple faced a decline in iPhone shipments, with only 50.1 million units shipped in the first quarter compared to 55.4 million units during the same period last year, according to IDC.
The decline in Apple’s smartphone shipments was particularly evident in China, where there was a 2.1% reduction in the final quarter of 2023 compared to the previous year. This trend highlights the challenges encountered by the U.S. tech giant in its third-largest market, attributed in part to restrictions imposed by certain Chinese companies and government agencies on the usage of Apple devices by employees, mirroring similar measures taken by the U.S. government regarding Chinese apps on security grounds.
Based in Cupertino, California, Apple is gearing up for its Worldwide Developers Conference (WWDC) scheduled for June, where it intends to showcase updates to the software powering its diverse range of devices, including iPhones and iPads.
Investors are keenly observing developments in Apple’s artificial intelligence (AI) initiatives, an area where the company has been relatively reticent. The incorporation of AI technology into its devices holds significant implications, particularly considering Apple’s recent loss of its status as the world’s most valuable company to Microsoft earlier in the year.