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While internationally Apple loses top spot, in India it is a star

Apple’s smartphone shipments dropped about 10% in the first quarter of 2024, hurt by intensifying competition by Android smartphone makers aiming for the top spot, data from research firm IDC showed.

Global smartphone shipments increased 7.8% to 289.4 million units during January-March, with Samsung , at 20.8% market share, clinching the top phone maker spot from Apple.

The iPhone maker’s steep sales decline comes after its strong performance in the December quarter when it overtook Samsung as the world’s No.1 phone maker. It’s back to the second spot, with a 17.3% market share, as Chinese brands such as Huawei gain market share.

Xiaomi occupied the third position with a market share of 14.1% during the first quarter.

Samsung, which launched its latest flagship smartphone line-up – Galaxy S24 series – at the beginning of the year, shipped more than 60 million phones during the period.

Global sales of Galaxy S24 smartphones jumped 8%, compared to last year’s Galaxy S23 series during their first three weeks of availability, data provider Counterpoint previously said.

In the first quarter, Apple shipped 50.1 million iPhones, down from 55.4 million units it shipped same period last year, according to IDC.
Apple’s smartphone shipments in China shrank 2.1% in the final quarter of 2023 from a year earlier.

The drop underscores the challenges facing the U.S. firm in its third biggest market, as some Chinese companies and government agencies limit employees’ use of Apple devices, a measure that mirrors U.S. government restrictions on Chinese apps on security grounds.

India. Apple has set a new record by exporting $10 billion worth of iPhones from India during FY24, a 100 per cent increase over the previous financial year under the Production-Linked Incentive (PLI) scheme. In terms of consumer products, this constitutes the largest-ever export of a single branded product by any company from India.

iPhone exports accounted for 70 per cent of Apple’s total production in FY24 in India. Of the three suppliers, Foxconn exported 60 per cent of its total iPhone output; Pegatron 74 per cent; and Wistron (now the Tatas) 97 per cent. Apple’s total iPhone production by its three suppliers touched $14 billion during the financial year. In FY24, the cumulative export target under the PLI scheme for the three suppliers was $7.2 billion, a target they have exceeded by 39 per cent. taxes etc., will be in the range of $16 billion.

The total exports of mobile phones from India are expected to cross $15 billion in FY24, making Apple by far the largest contributor with nearly two-thirds of the total.

While the domestic market for Apple products in general and the iPhone in particular is growing fast, the company’s revenue of Rs 49,321 crore for FY23 merely constituted 1.5 per cent of Apple’s global turnover of $383.29 billion. Its FY24, revenue is expected to increase over the previous fiscal by over 30 per cent.

CT Bureau

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