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    Apple Faces Fierce Competition as Samsung continues to Lead the Global Smartphone Market

    Apple Faces Fierce Competition as Samsung continues to Lead the Global Smartphone Market


    Finance Outlook India Team | Monday, 15 April 2024

    Shipments of smartphones fell by about 10% for Apple in the first quarter of this year. According to statistics acquired by IDC, this was mostly caused by increased competition from Android brands.

    Reuters reported that from January to March, shipments of smartphones increased 7.8% globally, totaling 289.4 million devices. On the other hand, Samsung overtook Apple, which holds a 20.8% market share, to become the top phone manufacturer.

    Apple experienced a decline in sales following a strong showing in the December quarter, during which it overtook Samsung to take the top spot in the global phone market. Now, with a 17.3% market share, it has fallen back to the second place.

    Xiaomi, a Chinese company, was ranked third with a 14.1% market share.

    IDC reports that Apple delivered 50.1 million iPhones in the first quarter of this year, which is less than what was shipped at the same time last year.

    Apple's smartphone exports to China fell by about 2.1 percent in the fourth quarter of 2023 compared to the same period the previous year, as the country's economy continues to be pressured by inflation. This drop in the number, according to the research, also emphasizes the challenges the American corporation is facing in its third-largest region. The use of Apple products by employees is limited by certain Chinese government agencies and businesses. Notably, the U.S. government implemented limitations on Chinese applications due to security concerns, adopting similar tactics.



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