According to data from research firm IDC, Apple’s smartphone shipments dropped about 10% in the first quarter of 2024 due to increasing competition from Android smartphone makers. Global smartphone shipments, on the other hand, increased by 7.8% to 289.4 million units during January-March. Samsung overtook Apple as the world’s top phone maker with a market share of 20.8%. Apple came in second with a market share of 17.3%, and Chinese brands like Huawei gained market share. Xiaomi occupied the third position with a market share of 14.1% during the first quarter.
Samsung shipped more than 60 million phones during the period after launching its latest flagship smartphone lineup, the Galaxy S24 series, earlier in the year. In the first quarter, Apple shipped 50.1 million iPhones, down from 55.4 million units it shipped during the same period last year. Apple’s smartphone shipments in China also shrank 2.1% in the final quarter of 2023 compared to a year earlier. This indicates the challenges facing Apple in its third biggest market, as some Chinese companies and government agencies limit employees’ use of Apple devices.
Cupertino, California-based company, Apple, will host its Worldwide Developers Conference (WWDC) in June, where it will highlight updates to the software powering iPhones, iPads, and other Apple devices. Investors are closely watching for updates on artificial intelligence development at Apple, which has so far spoken little about incorporating AI technology into its devices. Microsoft (MSFT.O) recently overtook Apple as the world’s most valuable company.