New Delhi: Samsung Electronics has overtaken Apple to claim the title of the world’s biggest smartphone brand in the first quarter of 2024. This has caused a big shakeup in the smartphone industry around the world. This shift has come as iPhone shipments experienced a sharp decline of nearly 10% year over year, as per the data released by Market Research Firm IDC.
Apple’s global smartphone market saw a rebound despite a significant setback, with shipments rising by 7.8% to reach 289.4 million devices. Strong sales of the latest Galaxy S24 series smartphones were the major reason for Samsung to gain the top spot, this propelled the company to a commanding 20.8% market share. Apple slipped to second place with a 17.3% share shipping 50.1 million iPhones compared to 55.4 million during the same period last year. Also, Chinese brands like Xiaomi and Huawei made strides, with Xiaomi securing the third position with a 14.1% market share.
Challenges Faced By Apple
Apple’s problems are highlighted by the drop in iPhone shipments, especially in important regions like China. Apple’s sales have suffered as a result of limitations placed on the usage of its gadgets by businesses and governmental organizations. Even though the business released its most recent iPhone generation in September of last year, it has struggled to maintain its market position in China.
Apple’s strategies to boost sales
To counter the decline in unit sales Apple has restored to offering discounts of up to $180 off regular prices through retail partners in China, aiming to stimulate demand. The fact that sales of its high-end iPhone 15 Pro models probably helped to increase revenue per device is a consolation prize for the corporation.
New trends in the smartphone market
According to Nabila Popal, research director at IDC, the smartphone market is changing as users choose more expensive phones that they plan to keep for extended periods. The growing average selling prices of smartphones are indicative of this change. To stay at the top of the market, Apple must reconsider its approach in light of the intense competition it confronts from Android rivals in several different categories.
While Samsung rejoices over its rise to the top of the smartphone industry, Apple is facing difficulties that could undermine its position of supremacy. The dynamic global smartphone market highlights the necessity for both industry titans to develop and adapt to maintain their lead in a constantly changing field.
