Samsung beats Apple as iPhone shipments drop

Tech giant Apple has lost its spot as the top phonemaker to rival Samsung after a recording a significant drop in smartphone shipments in the first quarter of 2024, data from research firm International Data Corporation (IDC) showed on Sunday.

The company recorded a 10% drop in iPhone shipments as a result of intensifying competition by Android smartphone makers.

According to Business Insider, global smartphone shipments spiked by 7.8% to 289.4 million units during January-March, and as South Korea's Samsung stood at 20.8% market share, it was clear which company was the new top phonemaker.

Apple's steep sales follow the company's strong performance in the December quarter when it dethroned Samsung as the world's top phone maker.

It's back to the second spot, with 17.3% market share, as Chinese brands such gain market share.

Samsung, which launched its latest flagship smartphone lineup — Galaxy S24 series — in the beginning of the year, shipped more than 60 million phones during the period.

Global sales of Galaxy S24 smartphones jumped 8%, compared to last year's Galaxy S23 series during their first three weeks of availability, data provider Counterpoint previously said.

In the first quarter, Apple shipped 50.1 million iPhones, down from 55.4 million units it shipped same period last year, according to IDC.

Apple's smartphone shipments in China shrank 2.1% in the final quarter of 2023 from a year earlier.

The decline highlights challenges faced by the US firm in its third biggest market, as some Chinese companies and government agencies limit employees' use of Apple devices, a measure that mirrors US government restrictions on Chinese apps on security grounds.

Investors are closely watching Apple as the company is set to hold its Worldwide Developers Conference (WWDC) in June where it will highlight updates to the software powering iPhones, iPads, and other Apple devices.

They await updates on artificial intelligence development at Apple, which has so far spoken little about incorporating the AI technology into its devices.