Apple (NASDAQ:AAPL) experienced a notable 10% decrease in iPhone shipments during the first quarter of 2024 while the global smartphone market saw a 7.8% increase to 289.4 million units, according to IDC. This growth follows a year marked by inventory overages that impacted the industry. Samsung Electronics took back the top spot in the market.
Nabila Popal, research director at IDC, commented on the industry’s recovery, noting that despite the contraction experienced by the two leading players, Samsung seems to be in a more robust position than in recent quarters.
Apple’s decline in iPhone shipments is particularly pronounced in China, the world’s largest smartphone market. The challenges have been acute since the introduction of the latest iPhone line in September, influencing Apple’s overall performance and leading to a shipment of 5 million fewer iPhones compared to the same quarter the previous year, as highlighted by IDC’s preliminary findings.