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In Q1 2024, Apple recorded a significant drop in iPhone sales, down 9.6 per cent year-on-year, selling 50.1 million units compared to 55.4 million in Q1 2023. This decline prompted Samsung to regain first place in the ranking of smartphone manufacturers, signalling a change in trends in the global smartphone market.
Competitive pressures and geopolitical tensions
Apple’s drop comes at a time of increasing competitive challenges, especially from the Chinese front. Huawei, supported by government funds, showed double-digit growth, thanks in part to the launch of the new Mate 60 smartphone, which rekindled consumer interest in the brand. Geopolitical tensions between the US and China continue to influence the market, with disputes over technological competitiveness adding further challenges for US companies operating in China.
Samsung recaptures the market
According to the International Data Corporation (IDC) report, Samsung increased its market share to 20.7 per cent from 22.5 per cent in Q1 2023, selling 60.1 million devices. This result allows Samsung to regain the lead it lost last year to Apple.
Analysis of global smartphone sales
The global smartphone market showed an overall growth of 7.8 per cent year-on-year, with a total of 289.4 million units sold in the first quarter. Despite the general market growth, Apple saw its share drop to 17.3 per cent from 20.7 per cent in the previous year. Other key players such as Xiaomi, Transsion and Oppo ranked third, fourth and fifth respectively in terms of sales volume, with market shares of 14.1%, 9.9% and 8.7%.
Future perspectives
The decline in iPhone sales suggests that Apple may have to review its market and product strategies to remain competitive, especially in key markets such as China. The ability to innovate in design and functionality, coupled with an effective marketing strategy, will be crucial to reverse the current trend and regain market share lost to Asian competitors.
Increasing competition, coupled with complex geopolitical dynamics, will continue to shape the smartphone market landscape in 2024 and beyond, with Apple at the centre of these global challenges.
What do you think Apple is doing wrong?
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