Apple Loses the Lead in Q1 2024 

In the first quarter (Q1) of 2024, Apple’s smartphone distribution witnessed a decrease of approximately 10%, as reported by IDC on Sunday.  

The decline is due to significant competition from its rival, Android phone manufacturers. 

Smartphone shipments rose by 7.8% to nearly 289.4 million units globally.  Samsung regained the leading position in the smartphone market. It acquired a 20.8% share, surpassing Apple. This recent success could be partially attributed to the launch of its latest Galaxy S24 series at the beginning of the year. This series achieved over 60 million units delivered in the quarter. It also saw an 8% increase in sales during its first three weeks compared to last year’s Galaxy S23 series. 

Despite overtaking Samsung in the previous quarter, Apple now holds a 17.3% market share, pushing it down to second place. The American tech giant delivered 50.1 million iPhones in the first quarter, a drop from 55.4 million a year ago. There was also a decline in its market performance in China as the deliveries fell by 2.1% in the first quarter of 2023 compared to the year before.  

This fall in Q1 2024 reflects the challenges that Apple is facing in China. Some companies and government entities are somehow banning the use of Apple products among their employees. It also mirrors similar actions taken by the U.S. for national security purposes, especially when it comes to Chinese apps. 

Chinese smartphone manufacturers, such as Huawei, are continuously expanding their presence in the market. For instance, Xiaomi kept its position as the third-largest vendor worldwide, with a 14.1% market share.  

Moving forward, Apple is preparing for its Worldwide Developers Conference (WWDC) in June. The event is predicted to reveal major software updates for its devices. Investors are particularly eager to hear about Apple’s developments in artificial intelligence technology, a sector in which the company has maintained a low profile compared to its rivals. Additionally, earlier this year, Apple lost its status as the world’s most valuable company to Microsoft. 

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