Samsung Overtakes Apple as Top Smartphone Maker

According to market research firm IDC, Apple’s iPhone shipments dropped by 10% in the first three months of 2024, while Samsung, buoyed by strong sales of its new Galaxy S24 lineup, captured 20.8% of the market share. The race for smartphone dominance is sure to heat up in the coming months.

Research from IDC shows that in the first quarter of 2024, Apple’s iPhone shipments dropped by about 10%, as more Android smartphone makers competed for the top spot. Global smartphone shipments, however, went up by 7.8%, reaching 289.4 million units from January to March. Samsung took the lead with a 20.8% market share, surpassing Apple.

Apple had a strong performance in the previous quarter, becoming the number-one phone maker. But now, it’s back to second place with a 17.3% market share. Chinese brands like Huawei are gaining ground in the market, contributing to Apple’s decline.

During the same period, Xiaomi, another top smartphone maker from China, held the third position with a market share of 14.1%.

Samsung’s success can be attributed to the launch of its latest flagship smartphone series, the Galaxy S24, which shipped over 60 million units in just a few months. The Galaxy S24 saw an 8% increase in sales compared to the previous year’s Galaxy S23 series within the first three weeks of availability.

In contrast, Apple shipped 50.1 million iPhones in the first quarter of 2024, down from 55.4 million units in the same period last year.

Damage Control

Apple’s struggle in China is evident as its smartphone shipments in the country decreased by 2.1% in the final quarter of 2023. Some Chinese companies and government agencies restrict the use of Apple devices among employees, similar to U.S. government restrictions on Chinese apps citing security concerns.

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In June, Apple will host its Worldwide Developers Conference (WWDC), where it will unveil updates to its software for iPhones, iPads, and other devices. Investors are particularly interested in Apple’s advancements in artificial intelligence (AI) technology, although the company has provided limited information on its integration into its products.

Earlier this year, Apple lost its position as the world’s most valuable company to Microsoft.