Apple iPhone shipments fall by 10% in Q1 2024, Samsung regains top spot: IDC report

In the first quarter of 2024, Apple iPhone shipments declined by 10 percent, allowing Samsung to reclaim the top spot in the smartphone market, reveals a recent IDC report.

Apple's grip on the smartphone market weakened as iPhone shipments dropped by 10 percent in Q1 2024, according to a latest IDC report. (Bloomberg)

Apple's stronghold in the global smartphone market has faced a significant setback in the first quarter of 2024, marking a shift in the industry's landscape. According to the latest findings from market analysis firm IDC, iPhone shipments witnessed a 10 percent decline compared to the same period last year. This setback has paved the way for Samsung to reclaim its position as the leading smartphone manufacturer, driven by the robust sales performance of its latest flagship series, the Samsung Galaxy S24.

Market Optimism Amidst Stiff Competition

"Smartphone recovery is gradually gaining momentum, fostering a sense of optimism among major brands," remarked Ryan Reith, group vice president at IDC's Worldwide Mobility and Consumer Device Trackers. “Although Apple clinched the top spot by the end of 2023, Samsung has now reaffirmed its dominance in the first quarter. While both companies are expected to maintain their stronghold in the high-end market, the resurgence of Huawei in China, alongside significant gains from Xiaomi, Transsion, OPPO/OnePlus, and Vivo, may prompt them to seek expansion opportunities. As the recovery unfolds, major players are likely to solidify their positions while smaller brands vie for market share.”

Not sure which
mobile to buy?

The IDC report underscores the escalating rivalry within the smartphone sector, particularly evident in Android manufacturers' concerted efforts to challenge Apple's supremacy. This dynamic is reflected in the overall uptick in global smartphone shipments, which surged by 7.8 percent, reaching a total of 289.4 million units in Q1 2024.

Samsung's Success with Galaxy S24 Series

Samsung's resurgence owes much to the successful debut of its latest flagship offering, the Samsung Galaxy S24 series. Initial data from Counterpoint indicates an impressive 8 percent surge in global sales for the Samsung Galaxy S24 compared to its predecessor, the Samsung Galaxy S23, during the initial three weeks of availability, indicating a positive reception from consumers.

However, Apple faces notable challenges, especially in China, its third-largest market. iPhone shipments in China experienced a 2.1 percebt decline in Q4 2023, reflecting the hurdles posed by regulatory restrictions imposed by Chinese entities and governmental agencies. These restrictions mirror similar measures undertaken by the US government concerning Chinese apps, citing security concerns.

Apple's WWDC and AI

Looking ahead, Apple's prospects may see a turnaround with imminent events on the horizon. The company's annual Worldwide Developers Conference (WWDC) in June is eagerly awaited, where Apple is anticipated to unveil software updates for its array of devices. Of particular interest to investors is the potential unveiling of advancements in artificial intelligence (AI) integration within Apple products. While competitors have been vocal about their strides in AI development, Apple's approach has been comparatively reserved. Substantial AI integration within Apple's ecosystem could provide significant momentum for the company's fortunes.