Iphone (Apple) shipments dropped by around 10 per cent in the first quarter of 2024

Buisness - Apple has been dominating the the smartphone market for years, but recently it took a hit as its shipments dropped by around 10 per cent in the first quarter of 2024. As per the data from research firm IDC., it is stated that the competition has Intensified competition from Android smartphone makers, from the top spot, which has been contributing to the decline.
During January-March (2024), the global smartphone shipments witnessed a spike- by 7.8 per cent to 289.4 million units. Samsung has reportedly emerged as the new top phone maker, claiming 20.8 per cent market share, which has surpassed Apple Inc. 
This shift has followed Apple's strong performance in the previous quarter, where it briefly held the top position.Apple’s decline in sales corresponds with Chinese brands like Huawei which has gained market share. Xiaomi is another Chinese smartphone brand which has secured the third position with a market share of 14.1 per cent.Samsung's shipment scaling has been fueled by the launch of its latest flagship smartphone device, the Galaxy S24 series, at the beginning of the year itself. The company further reported to ship over 60 million phones during the period, with the global sales of the Galaxy S24 series of smartphones which witnessed an 8 per cent increase compared to 2023.Apple has reportedly shipped 50.1 million iPhones in the first quarter, which is a decrease from the 55.4 million units that have shipped during the same period in 2023. This shipment decline was particularly noticeable in the Chinese market, where Apple's smartphone shipments reduced by 2.1 per cent when analysed in the final quarter of 2023.