Global shipments of Apple’s (AAPL) iPhone declined in the fourth quarter of 2024 due to weak demand and sales in China, according to the International Data Corporation (IDC).
Preliminary data from IDC found that Apple’s global iPhone shipments fell 4.1% to 76.9 million units in Q4 of last year.
The decline was mainly the result of rising domestic competition in China, where companies such as Xiaomi, Oppo, and Honor grew their market share through sales of cheaper devices.
Despite the fourth quarter decline, Apple still dominated the global smartphone market in 2024 with an 18.7% share, said IDC. Samsung was a close second with 18% share of the market.
However, Samsung’s shipments also declined in the final quarter of last year, falling 2.7% to 51.7 million units, reported IDC.
In contrast to Apple and Samsung, Chinese smartphone maker Xiaomi saw its total shipments grow 15.4% during 2024 as people gravitate to its cheaper devices.
IDC said that Chinese companies shipped 56% of smartphones worldwide in Q4 2024 as they expand throughout Europe and Africa.
Overall, the global smartphone market rebounded in 2024 after two years of decline, said IDC, adding that it “remains optimistic about continued growth in 2025.”
The stock of Apple has risen 28% over the last 12 months to trade at $234.40 U.S. per share.
