While global smartphone shipments saw a modest increase of 7.8% to 289.4 million units during January-March, Samsung emerged as the top phonemaker with a market share of 20.8%, surpassing Apple.
This drop in iPhone shipments follows Apple's impressive performance in the December quarter, during which it temporarily overtook Samsung as the world's leading phone maker. However, Apple has now slipped back to the second position, capturing 17.3% of the market share, as Chinese brands like Huawei continue to gain ground.
Xiaomi, another prominent Chinese smartphone maker, secured the third position with a market share of 14.1% in the first quarter, further intensifying competition in the industry.
Samsung's success in the first quarter can be attributed to the launch of its latest flagship smartphone lineup, the Galaxy S24 series, which saw shipments exceeding 60 million units. The global sales of Galaxy S24 smartphones experienced an 8% increase compared to the previous year's Galaxy S23 series.
Despite Apple shipping 50.1 million iPhones in the first quarter, down from 55.4 million units in the same period last year, challenges persist in key markets like China. Chinese companies and government agencies imposing restrictions on the use of Apple devices contribute to the decline in shipments.
Apple's upcoming Worldwide Developers Conference (WWDC) in June is eagerly anticipated, where updates to the software powering iPhones, iPads, and other Apple devices will be highlighted. Investors are particularly interested in developments related to artificial intelligence (AI) technology, an area where Apple has been relatively quiet. This focus on AI is crucial as Apple aims to maintain its competitiveness in the ever-evolving smartphone market.