Apple loses smartphone crown to Samsung as Chinese rivals gain ground

Apple lost its lead in the global smartphone market at the start of 2024, with iPhone sales falling 10 per cent as lower-cost Chinese rivals such as Xiaomi experienced rapid growth.

IDC estimated that global iPhone shipments declined 10 per cent to 50.1mn in the first three months of 2024 compared with the same period in 2023, giving it a 21 per cent market share. Samsung, which launched its latest flagship Galaxy S24 phone in January, had a 23 per cent share after shipments fell just under 1 per cent year on year to 60.1mn.

“There is a shift in power among the top five companies, which will probably continue,” said Nabila Popal, research director at IDC. “Xiaomi is coming back strong from the large declines experienced over the past two years and Transsion is becoming a stable presence in the top five with aggressive growth in international markets.”

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