Apple faced a setback in the first quarter of 2024, with a 10% decline in iPhone shipments, according to research data released by IDC. This drop can be attributed to increased competition from Android manufacturers. On the global scale, smartphone shipments rose by 7.8%, reaching 289.4 million units from January to March. Samsung emerged as the top phonemaker, surpassing Apple with a market share of 20.8%.
The decline in iPhone sales comes after Apple’s previous success in overtaking Samsung as the world’s leading phone manufacturer. However, Chinese brands like Huawei are now gaining ground, with Xiaomi claiming the third position in the market. Samsung’s success in the first quarter can be attributed to the launch of its Galaxy S24 series, which saw over 60 million units shipped.
Meanwhile, Apple shipped 50.1 million iPhones in the same period, down from 55.4 million units last year. The decline was particularly evident in China, where Apple faced challenges due to restrictions on foreign smartphone usage. Investors are looking forward to Apple’s Worldwide Developers Conference in June, hoping to see advancements in artificial intelligence development.
In a surprising turn of events, Microsoft surpassed Apple as the world’s most valuable company in the stock market. Despite Apple’s 48% stock price increase in the past year, concerns over iPhone demand have led to a decline in 2024. Microsoft’s success can be attributed to its focus on generative AI and cloud computing.
Looking ahead, Apple is banking on its Vision Pro mixed-reality headset to make an impact on earnings, although analysts predict a relatively minor financial outcome. As the smartphone market continues to evolve, larger companies like Apple and Samsung are expected to maintain their dominance, while smaller brands seek opportunities for growth and diversification.
