3 smartphone makers that Apple should be worried about
Apple's share of the global smartphone market shrank nearly 10% in the first quarter of 2024, IDC reported.
While the iPhone maker is still a force to be reckoned with, other rivals are gaining ground.
Here are three of Apple's biggest competitors.
Apple is no longer the undisputed top dog of the smartphone world.
So who are Apple's biggest rivals and the rising threats trying to eat its lunch?
Global shipments of iPhones contracted nearly 10% in the first quarter of the year, according to a recent report from International Data Corporation, a market research firm.
That means Samsung has overtaken Apple in global smartphone shipments.
While Apple customers have been known to show loyalty to the company, the IDC report suggests that may be changing as competition heats up.
Apple has faced flagging demand in China, one of its biggest markets, amid heightened competition from manufacturers like Huawei.
Here are the companies that are gaining ground on Apple — or overtaking it — in the smartphone wars.
Xiaomi's market share exploded.
Xiaomi is a name little known to most Americans, but don't understimate it. The Chinese company is ranked 360th on the Fortune Global 500 list — higher than Netflix, Uber, and, Capital One.
Its most recent offering, the Mi 14, debuted in October to strong demand in China. Xiaomi also makes the Redmi Note series of smartphones.
Though China is its largest market, according to Reuters, Xiaomi is only fifth in market share there, as Vivo, Huawei, Honor and Apple occupy the top four spots. But Xiaomi has established a strong presence outside of China, particularly in India.
Xiaomi does not sell its phones in the US. This is partially due to political concerns, according to IDC researcher Nabila Popal, who told Android Central in 2022 that "after what happened with Huawei," no Chinese tech company "would want to risk investing heavily in a market that can any day can simply 'ban' them."
Xiaomi also sells an electric car, launching the Speed Ultra 7, or SU7, last year — succeeding where Apple threw in the towel.
In the first quarter of 2024, shipments of Xiaomi smartphones grew 33.8%, as the company solidified its spot as the third-largest smartphone manufacturer in the world.
Transsion also had a strong start to the year.
Transsion is the company behind the Tecno, Itel, and Infinix lines of smartphones. Another Chinese manufacturer that most Americans probably won't have heard of, Transsion does particularly well in Africa, where it is the top seller with its "ultra low-end devices," according to an IDC report.
The company's presence in Africa has been bolstered by the Digital Silk Road, a component of China's Belt-and-Road development initiative, according to the Council on Foreign Relations. Its phones have multiple SIM card slots, allowing users to switch coverage easily, and were among the first to support keyboards for African languages, according to CFR.
Transsion's most recent offerings include the Tecno Phantom V, a foldable device reminiscent of Samsung's Galaxy Z.
Samsung is king.
Samsung is the most well-known iPhone competitor to North American consumers. Its offerings, including the recent Samsung Galaxy S24, are generally some of the most popular and accessible Android phones.
The South Korean company recently released the Galaxy Z Flip 5, a foldable phone that may have spurred Apple to at least explore a similar option.
Now, Samsung is working toward integrating AI into the Galaxy line.
The company is also notable for its non-smartphone offerings, including appliances and, soon, wearables like the Galaxy smart ring.
Samsung edged past Apple to take the top spot for global smartphone manufacturers, even though its shipments shrank slightly (less than 1%) in the first quarter of 2024.
Read the original article on Business Insider
