Apple sees global iPhone sales drop nearly 10% during first quarter
Apple saw global iPhone sales decline by a whopping 9.6% year-on year for the first quarter of 2024, a drop that stands in stark contrast to the overall trend in the smartphone market. The figures from according to a report by market researcher International Data Corporation stand in contrast to the wider smartphone market, which grew 7.8% over the same period.
That upward overall trend is good news for the smartphone market. After a difficult period due to inflation and weak demand, it is already the third quarter in a row that the numbers are turning green.
IDC’s report does note something of a power shift. Despite taking the top spot from Apple, Samsung also saw a slight decline in sales (-0.7%).
The big winners were Chinese brands Xiaomi (up 33.8%) and Transsion (up 84.9%) followed by a number of largely unknown brands like Itel, Tecno and Infinix.
Transsion owes much of its good numbers to Africa, where it is the market leader. It is also becoming increasingly popular in South Asia.
Declining sales of iPhones is bad news for Apple, which account for most of their sales. In the last quarter of 2023, sales of the iconic smartphone brought in nearly $70 billion. Its services business came a distant second at $23.1 billion.
Apple has been looking for a next big thing for some time to reduce its dependence on a single product. Cupertino recently launched the Vision Pro mixed reality headset to developers and has plans for personal home robots. Whether either will prove ‘must haves’ remains to be seen.
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