According to the data released by research firm IDC, Apple’s smartphone shipments decreased by almost 10% in the first quarter of 2024 as a result of fiercer competition from Android smartphone manufacturers vying for the top spot.
In the first quarter of 2024, Samsung overtook Apple as the world’s leading smartphone manufacturer.
Between January and March, shipments of smartphones worldwide rose 7.8% to 289.4 million devices, with Samsung (005930. KS) dethroning Apple as the leading phone maker with a 20.8% market share.
The sharp drop in sales for the iPhone manufacturer follows a stellar quarter in which it surpassed Samsung to become the world’s top phone manufacturer.
With a 17.3% market share, it has returned to the second position as Chinese companies like Huawei increase their market share.
“There is a shift in power among the Top 5 companies, which will likely continue as market players adjust their strategies in a post-recovery world.
“Xiaomi is coming back strong from the large declines experienced over the past two years, and Transsion is becoming a stable presence in the Top 5 with aggressive growth in international markets.
“In contrast, while the Top 2 players both saw negative growth in the first quarter, it seems Samsung is in a stronger position overall than they were in recent quarters,” said Nabila Popal, research director with IDC’s Worldwide Tracker team.
According to IDC, overall smartphone shipments increased 7.8% yearly to an estimated 289.4 million devices in the three months leading up to the end of March.
As its sales increased by more than a third to 40.8 million units, Xiaomi, a long-standing third-largest smartphone manufacturer in China, held onto its position and increased its market share by roughly a quarter to 14.1 per cent.
According to IDC, Transsion, a fellow Chinese business that owns the Tecno, Infinix, and Itel brands, saw the largest growth in shipments, rising by around 85% to 28.5 million devices, increasing its market share by over three quarters.
We earlier reported that a judge denied Apple’s request to have a lawsuit worth almost $1 billion dismissed, holding that the company must answer to claims that it unfairly charged commissions to over 1,500 developers in the UK when they bought apps and other content.