As more evidence that its flagship iPhone sales have disintegrated, Apple Inc. (NASDAQ: AAPL) lost the number one spot in global smartphone shipments in the first quarter. Its deliveries dropped 9.6% from the same quarter a year ago to 50.1 million units. Samsung shipments fell just o.7% to 60.1 million units in that time. Shipments by three Chinese manufacturers followed the two leaders. Overall, global smartphone shipments rose 7.8% to 289.4 million units.
Ryan Reith, group vice president with IDC’s Worldwide Mobility and Consumer Device Trackers, commented, “While Apple managed to capture the top spot at the end of 2023, Samsung successfully reasserted itself as the leading smartphone provider in the first quarter.”
China’s Xiaomi, Transsion, Oppo/OnePlus, and Vivo followed Samsung and Apple. Xiaomi and Transsion posted double-digit improvements. Transsion has a large footprint in Africa and the Middle East. None of the three have posted large shipments in Europe or the United States–yet.
Apple’s stock has fallen 10% this year, after being among the best-performing big tech stocks of the past five years. It lost its position among public companies in terms of its market cap ($2.7 trillion), a position taken over by Microsoft ($3.2 trillion). (Here Is How Much Money Apple Makes Every Minute.)
Company | Q1 Shipments | Market Share |
Samsung | 60.1 million | 20.8% |
Apple | 50.1 million | 17.3% |
Xiaomi | 40.8 million | 14.1% |
Transsion | 28.5 million | 9.9% |
Oppo | 25.2 million | 8.7% |
∴
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
The post Apple Loses Position as Top Smartphone Company as Samsung Rises appeared first on 24/7 Wall St..
Click this link for the original source of this article.
Author: Douglas A. McIntyre
This content is courtesy of, and owned and copyrighted by, https://247wallst.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.