Samsung Surpasses Apple in Q1 2024 Smartphone Shipments

Apple has slipped from its position as the world’s largest smartphone maker to Samsung in the first quarter of 2024, as global iPhone shipments experienced a significant decline, marking another setback for the tech giant this year.

According to the latest report from market research firm IDC, Apple’s smartphone shipments dropped to 50.1 million units in Q1 2024, a 9.6% decrease compared to the previous year. This decline occurred despite the overall smartphone market growing by 7.8%, driven mainly by the increased shipments of smartphones from Chinese manufacturers.

Samsung, with 60.1 million shipments, took the lead as the world’s largest smartphone maker in the first three months of the year, despite experiencing a slight 0.7% decline in shipments year-on-year. Xiaomi maintained its position as the third-largest phone maker globally, with its shipments growing significantly by 33.8%.

Transsion, a Chinese company known for its low-cost smartphones popular in Africa, Latin America, and Asia, saw a substantial increase in shipments from 15.4 million in 2023 to 28.5 million in Q1 2024.

Investors are closely monitoring Apple’s performance, with the company’s shares down 1.18% in premarket trading on Monday. Apple’s stock has had a challenging year so far, declining by nearly 5% since the beginning of 2024.

Apple has faced a series of setbacks since the start of the year, including a 24% year-over-year decrease in iPhone sales in China, a market that accounts for more than 15% of its revenues. Additionally, Apple reportedly abandoned its decade-long effort to build a self-driving car earlier this year.

Furthermore, the company is facing a lawsuit from the Justice Department and multiple U.S. states, accusing it of antitrust violations through restrictive policies that harm competitors and consumers. Concerns have also been raised about Apple’s artificial intelligence efforts lagging behind its rivals, such as Google, Microsoft, and Meta.

In an attempt to bolster its AI capabilities, Apple reportedly held talks with Google to integrate the search giant’s Gemini AI service into the iPhone. This move suggests that Apple’s internal AI efforts may still be significantly behind those of its competitors.