American technology company, Apple has lost its position as the largest smartphone seller in the world after iPhone shipments dropped about 10 percent in the first three months of the year 2024.
According to data from intelligence firm International Data Corporation (IDC), Samsung, which launched its flagship Galaxy S24 this year, sold some 20.8 percent of the total 289.4 million units shipped globally between January and March.
Apple shares were down to less than 1 percent when markets re-opened on Monday morning.
This comes after the tech collosus discarded its decade long plan to create an Electric Vehicle (EV) and is now said to be experimenting with a personal robot device.
Apple became the best selling phone maker in the world in 2023 after the release of the iPhone 15.
However, the drop is sourced from problems it’s facing in its third biggest market, China.
A number of Chinese companies and government agencies have banned the use of foreign phones, including the iPhone.