iPhone Loses Market Share, Samsung Overtakes Apple in Smartphone Market
The most famous cell phones lost 10%, mainly due to the Chinese market
iPhone shipments fell 10% in the first quarter of 2024. These are tough times for Apple, which began the year by losing its lead in stock market capitalization to Microsoft and now faces increasingly stiff competition from historic South Korean rival Samsung and revived Chinese brands Huawei and Xiaomi.
According to research firm IDC, which published a –10% figure, this will lead to increased competition from Android manufacturers seeking market leadership. And all this in a sector that has returned to full form, given that global smartphone shipments rose 7.8% (289.4 million units) in the first quarter of the year, with Samsung leading the market with a 20.8% share, regaining the supremacy that Apple snatched from it in the last three months of 2023. Samsung’s new Galaxy S24 models, released earlier this year with 60 million units shipped, are making an impact. As a result, the Cupertino-based company has a 17.3% market share, while China’s Xiaomi is in third place (14.1%).
In addition to the cyclicity, associated with the launch of flagship models, Apple is experiencing delays in the introduction of artificial intelligence software, as well as some limitations in its third market, namely China. Beijing has actually found that some companies and government agencies are restricting the use of Apple devices by employees in response to US restrictions on some Chinese applications.
As for Apple’s steps in artificial intelligence, they will likely be announced in June during Apple’s annual developer conference (WWDC).