Apple's Smartphone Sales Decline as Samsung Hit 20.8% Market Share in Q1 2024

International Data Corporation (IDC)'s market research has revealed that Samsung shipped more smartphones than Apple in the first quarter of 2024, capturing a 20.8% market share compared to Apple's 17.3%. 

According to the report, this shift comes amidst a global smartphone market rebound, with overall shipments growing by 7.8% year-over-year. 

It said that the key factor behind Samsung's rise is the strong performance of their latest Galaxy S24 series, launched earlier this year. 

Apple, on the other hand, saw iPhone shipments decline by nearly 10% compared to Q1 2023. 

Apple faces headwinds in the crucial Chinese market, where some government entities are restricting the use of Apple devices. 

This mirrors similar tensions between the US and China regarding technology restrictions. 

Additionally, Apple hasn't been able to maintain momentum in China, the world's largest smartphone market, since launching the iPhone 15 series last September. 

While iPhone unit sales fell, Apple might still see higher revenue due to a potential increase in sales of their premium iPhone 15 Pro models, which typically command higher prices. 

However, the company has resorted to uncharacteristic discounts in China to boost demand, offering up to $180 off regular prices through retail partners. 

This changing landscape highlights the intensifying competition in the smartphone market. 

Apple will need to adapt its strategies to regain its top spot and navigate the challenges in key markets like China.