TECH - Apple Rides On Heavy Discounts And Promise Of AI To Stabilize iPhone Shipments But It's Still Losing Out To Chinese Rivals | Benzinga
In the second quarter of 2024, both Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co. (OTC:SSNLF) experienced a rise in smartphone shipments. However, the two tech giants saw a decrease in their overall market shares due to stiff competition from Chinese rivals.
What Happened: The quarterly shipments of iPhones by Apple increased by 1.5% from the previous year to 45.2 million units, according to an IDC report on Monday.
At the same time, Samsung’s shipments rose by 0.7% to 53.9 million units. Despite this growth, Apple’s global market share dropped from 16.6% to 15.8%, and Samsung’s share fell from 20.0% to 18.9%.
Chinese smartphone makers, on the other hand, saw an increase in their market ...