Samsung has stolen the top spot in the smartphone market back from Apple, after the US tech giant gained an edge a few months ago.
Apple’s iPhone sales sagged 10 per cent in the first three months of 2024, research firm International Data Corporation has found, leaving Korean manufacturer Samsung sitting on the throne once again.
In January, Apple overtook Samsung as the world’s top smartphone maker for the first time since 2010, according to IDC.
In preliminary results, IDC said iPhone shipments fell to 50.1m in the first quarter of this year, falling nearly 10 per cent compared with the same period in 2023. It leaves Apple with a 20.7 per cent market share.
iPhone sales in China have suffered as a result of fierce competition from local rivals like Huawei, Oppo and Xiaomi, which squeezed Apple out with more aggressive pricing.
iPhone sales in China dropped by 24 per cent in the first six weeks of the year compared to the same period a year earlier, according to a March report from Counterpoint Research.
On Monday, IDC said Samsung shipments also fell but only by 0.7 per cent to 60.1m in the first quarter, giving it the largest market share of any smartphone maker, at 22.5 per cent.
But Chinese manufacturers are rapidly catching up. Xiaomi and Transsion increased shipments of their phones by 34 per cent and 85 per cent, respectively, giving the top two heavyweights some reason for concern.
The smartphone market has been grappling with a demand slowdown over the last two years, following a boom during the Covid-19 pandemic, as consumers trade in their old phones less often.
This turbulence is ebbing away however, said Nabila Popal, research director with IDC’s Worldwide Tracker team.
“Firstly, we continue to see growth in value and average selling prices (ASPs) as consumers opt for more expensive devices knowing they will hold onto their devices longer,” Popal explained.
“Secondly, there is a shift in power among the Top 5 companies, which will likely continue as market players adjust their strategies in a post-recovery world.
“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 5 with aggressive growth in international markets,” she added.
Overall, global smartphone shipments increased 7.8 per cent year over year to 289.4m units in the first quarter of 2024.
IDC said: “While the industry is not completely out of the woods, as macroeconomic challenges remain in many markets, this marks the third consecutive quarter of shipment growth, a strong indicator that a recovery is well underway.”