Apple has been dominating the the smartphone market for years, but recently it took a hit as its shipments dropped by around 10 per cent in the first quarter of 2024. As per the data from research firm IDC., it is stated that the competition has Intensified competition from Android smartphone makers, from the top spot, which has been contributing to the decline.
Samsung takes the lead on smartphone shipments
During January-March (2024), the global smartphone shipments witnessed a spike- by 7.8 per cent to 289.4 million units. Samsung has reportedly emerged as the new top phone maker, claiming 20.8 per cent market share, which has surpassed Apple Inc.
This shift has followed Apple's strong performance in the previous quarter, where it briefly held the top position.
Impact of competition
Apple’s decline in sales corresponds with Chinese brands like Huawei which has gained market share. Xiaomi is another Chinese smartphone brand which has secured the third position with a market share of 14.1 per cent.
Samsung's success
Samsung's shipment scaling has been fueled by the launch of its latest flagship smartphone device, the Galaxy S24 series, at the beginning of the year itself. The company further reported to ship over 60 million phones during the period, with the global sales of the Galaxy S24 series of smartphones which witnessed an 8 per cent increase compared to 2023.
Apple's performance
Apple has reportedly shipped 50.1 million iPhones in the first quarter, which is a decrease from the 55.4 million units that have shipped during the same period in 2023. This shipment decline was particularly noticeable in the Chinese market, where Apple's smartphone shipments reduced by 2.1 per cent when analysed in the final quarter of 2023.
What are the challenges in China?
Apple has faced challenges in China, which is the tech giant’s third-largest market. Some of the companies and government agencies have further restricted employees from using Apple devices as well.
WWDC: When is it scheduled and what to expect
Apple's Worldwide Developers Conference (WWDC) has been scheduled for June 2024, where the top brains from the company will be showcasing the anticipated updates to the software which will be powering the existing and upcoming devices.
Furthermore, investors are eagerly awaiting updates on artificial intelligence (AI) development, a much-talked-about area where Apple has been relatively quiet. Earlier this year, Apple lost its position as the world's most valuable company to Microsoft.
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