Apple's Market Share Declines Amidst Rising Competition

In a surprising turn of events, Apple Inc. experienced a 2% decline in global iPhone sales in 2024, reducing its market share to 18%. This downturn comes in contrast to the significant growth seen by Chinese competitors Xiaomi and Vivo, which enjoyed annual increases of 12% and 9%, respectively.

Samsung Electronics also faced challenges, with its market share dropping to 19%. Despite these shifts, the overall smartphone market grew by 4%, signaling a robust recovery from the previous year's difficulties. "The iPhone 16 series received a mixed response, partly due to the delayed availability of Apple Intelligence at launch," according to Counterpoint Research.

Market Recovery and Growth Trends

Research Director Tarun Pathak highlighted the resilience of the smartphone market, stating, "2024 was a year of recovery and normalization after a challenging 2023. Smartphones remain essential to daily life, and as macroeconomic pressures eased, the market began to recover from Q4 2023, experiencing growth for five consecutive quarters. Growth was observed in nearly all markets, with Europe, China, and Latin America leading the way."