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iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in the first quarter, allowing Samsung to once again claim the spot as the world’s largest phone seller.

Data released by IDC, a market intelligence firm, show that Apple shipped 50.1 million iPhones in the first quarter of 2024 compared to 55.4 million units in the same period last year. Samsung also saw a decline in shipments but still managed to reach 60.1 million units.

“As expected, smartphone recovery continues to move forward with market optimism slowly building among the top brands,” said Ryan Reith, group vice president with IDC’s Worldwide Mobility and Consumer Device Trackers. “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.”

IDC expects that Apple and Samsung will continue to have supremacy in the smartphone market but note that brands like Huawei and Xiaomi will push them to get creative if they want to hold their positions.

Due to lower sales and challenges in certain markets like China, Apple stock has been all over the place since the start of 2024. The company’s shares opened at $175.43 per share on Monday before closing at $172.69. The stock dipped to $165.87 at one point in aftermarket trading before bouncing back up.

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