BUZZ-Apple dips on losing top phonemaker status to Samsung

Reuters04-15

** Apple shares drop 1.2% to $174.38 premarket, bucking strength in other megacap tech peers

** Research firm IDC data showed AAPL's smartphone shipments dropped ~10% in Q1 2024, hurt by intensifying competition by Android smartphone makers

** With a 17.3% market share, AAPL loses top spot to Samsung

, which was at 20.8% in Jan-Mar quarter; China's Xiaomi third with 14.1% market share

** AAPL had overtaken Samsung in December quarter

** Drop underscores AAPL's challenges in third biggest market, as some Chinese companies and government agencies limit employees' use of co's devices

** AAPL shares down ~8% YTD, as of last close, vs tech-heavy Nasdaq's ~8% advance

** AAPL only YTD decliner among major tech giants, including Alphabet , Nvidia , Meta Platforms , Amazon , Microsoft , up between 12.2%-44.6%

(Reporting by Ankika Biswas in Bengaluru)

((Ankika.Biswas@thomsonreuters.com))

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