Apple lags behind Samsung in Sales

According to data from IDC, in the first quarter of 2024, Apple’s smartphone shipments witnessed a 10% decline, falling to 50.1 million units from 55.4 million a year earlier. This drop was attributed to increased competition from Android manufacturers, with Samsung reclaiming the top spot as the world’s leading phone maker. Thanks to robust sales of its Galaxy S24 series, Samsung’s market share rose to 20.8%.

Meanwhile, Apple slipped to second place with a 17.3% market share, despite a strong performance in the previous quarter. Chinese brands like Huawei continue to expand their presence, intensifying the competitive landscape. Xiaomi remains in third place, holding a 14.1% market share.

The overall global smartphone market grew by 7.8%, totaling 289.4 million units shipped in the January-March period. Apple’s challenges were particularly pronounced in China, where its shipments dipped by 2.1% in the last quarter of 2023 amid local restrictions on the use of its devices.

As Apple gears up for its Worldwide Developers Conference (WWDC) in June, the tech community is eagerly anticipating updates on its software and potential advancements in artificial intelligence integration. These developments are closely watched by investors, especially after Apple recently lost its title as the world’s most valuable company to Microsoft.

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]