In the first quarter of 2024, Apple faced a setback as its smartphone shipments dropped by 10%, a report from Swerd Media reveals. This decline comes amid stiff competition from Android smartphone makers, impacting Apple’s market share.
According to the report, global smartphone shipments saw a 7.8% increase to reach 289.4 million units in January-March. Interestingly, Samsung surpassed Apple to become the top phonemaker with a 20.8% market share, as opposed to Apple’s decline in sales following its strong performance in the December quarter when it overtook Samsung.
The report also highlighted Xiaomi’s strong presence, securing the third position with a market share of 14.1% during the first quarter. Notably, Samsung shipped more than 60 million phones in the first quarter, fueled by the success of its Galaxy S24 series. Global sales of Galaxy S24 smartphones jumped by 8% compared to the previous year’s Galaxy S23 series.
In contrast, Apple shipped 50.1 million iPhones in the first quarter, down from 55.4 million in the same period last year. The report also pointed out Apple’s shrinking smartphone shipments in China by 2.1% in the final quarter of 2023 due to market challenges.
Investors are eagerly awaiting updates on Apple’s developments in artificial intelligence at the Worldwide Developers Conference scheduled for June. Earlier this year, Apple lost its position as the world’s most valuable company to Microsoft, adding more pressure on the tech giant to innovate and remain competitive in the ever-evolving smartphone market.
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