Apple Inc. Loses Top Spot in Global Smartphone Shipments
Apple Inc. has been knocked off the top spot in global smartphone shipments in the first quarter, raising concerns about the tech giant’s key business amid increasing competition from Chinese rivals. According to preliminary data released by research firm International Data Corporation (IDC), Apple’s global iPhone shipments fell 9.6% year-on-year to 50.1 million units.
Samsung, on the other hand, saw a slight decrease in shipments by 0.7%, totaling 60.1 million units in the same period. This was enough for the South Korean company to regain the top spot in global smartphone sales after Apple had surpassed them in the final quarter of last year.
Apple’s market share fell from 20.7% to 17.3% compared to a year ago, while Samsung’s market share dropped from 22.5% to 20.8%. IDC reported that despite the overall increase in total shipments for the top five smartphone manufacturers, Apple and Samsung’s market share declined as Chinese companies like Xiaomi and Transsion gained ground.
Xiaomi emerged as the third-largest smartphone shipper in the first quarter, with sales rising by nearly 34% to 40.8 million units. Transsion also saw a surge in shipments, up by 85% to 28.5 million units. Oppo surpassed Vivo to rank fifth in the same period.
Although the smartphone market is showing signs of recovery, IDC noted that prices are trending upward as consumers opt for more expensive devices with longer usage potential. Apple’s slide in the rankings follows a successful fourth quarter in 2023, where it benefitted from the popularity of high-end devices and aggressive trade-in offers.
In the October-December quarter, Apple’s iPhone business grew by nearly 6% year over year, with sales reaching $69.70 billion. Smartphone sales accounted for more than half of Apple’s total revenue in that period.