Apple has lost its position as the world’s top phonemaker to Samsung in the first quarter of 2024 as its shipments have dropped around 10%, a report says.
From January to March, Samsung captured a 20.8% market share, followed by Apple with 17.3% and China-based Xiaomi with 14.1%, Reuters reported, citing data from research firm IDC.
Samsung, which recently released the Galaxy S24 series phones, shipped more than 60 million devices during the first quarter, Reuters added.
The news agency cited the IDC as saying that Apple, meanwhile, only shipped 50.1 million iPhones, down from the 55.4 million units it shipped during the same three-month period last year.
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Overall, global smartphone shipments increased 7.8% to 289.4 million units during the first quarter of 2024, the report added.
It also said Apple phone shipments in China plunged 2.1% during the last quarter of 2023 compared to the year prior.
Apple and Samsung did not immediately respond Monday to a request for comment from FOX Business.
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At a Galaxy S24 launch event in January, Galaxy AI, the artificial intelligence technology Samsung has incorporated into its newest smartphones, received a spotlight. Samsung revealed it would launch what it called a "new era of mobile AI."
Samsung said it has deployed Galaxy AI for tools like Live Translate for talking or texting on the phones and Interpreter for face-to-face conversations. AI on the new smartphones can also help with the tone of messages, craft summaries of notes and transcribe voice recordings into text, according to the company.
It also introduced "Circle to Search," a Google function that allows users to "circle, highlight, scribble on or tap anything on Galaxy S24’s screen to see helpful, high-quality search results."
The news comes as Apple is laying off 614 workers in California following reports that emerged earlier this year that the tech giant is abandoning its effort to build an electric car.
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A state filing from Apple showed that the job cuts will impact eight offices in Santa Clara County and will go into effect on May 27.
FOX Business’ Aislinn Murphy contributed to this report.
