Apple Inc.’s iPhone shipments were down nearly 10% in the first quarter of the year, losing ground as the broader smartphone industry rebounded, according to market tracker IDC. Apple stock fell 0.79% in premarket trading.
The global mobile market rose to 289.4 million handsets shipped, marking a 7.8% rise from a year ago. Samsung Electronics Co. regained the top spot. Budget-focused brand Transsion jumped 85% in shipments, while Xiaomi Corp. bounced back to close the gap on second-place Apple.
The Cupertino, California-based company has struggled to sustain sales in China, the world’s biggest smartphone market, since the debut of its latest iPhone generation in September. Those issues are weighing on its global results. The company shipped 5 million fewer iPhones than it did a year earlier, according to IDC’s preliminary figures.
“The smartphone market is emerging from the turbulence of the last two years both stronger and changed,” said Nabila Popal, research director at IDC. “While the top two players both saw negative growth in the first quarter, it seems Samsung is in a stronger position overall than they were in recent quarters.”
Average selling prices for handsets are rising, as consumers increasingly opt for premium models that they intend to hold on to for longer, IDC’s researchers found. Apple is likely to have sold a higher proportion of its iPhone 15 Pro devices, resulting in higher revenue per unit. However, the company has also had to resort to unusual discounts to spur sales, with some retail partners in China taking as much as $180 off the regular price.
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