24/7 Wall St. Insights

• The iPhone’s market share slipped in the second quarter as consumers may be waiting for the new Apple Inc. (NASDAQ: AAPL) iPhone 16.
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It may be that consumers are waiting for the new iPhone 16. The iPhone’s market share slipped in the second quarter, compared with the first quarter of 2024, as its total shipments fell behind Samsung’s. Global production across the industry was down as well. It fell 3% to 286 million. The third quarter is not expected to be much better, with a dip of 5% year over year to 293 million units.

Trendforce keeps track of the smartphone data both worldwide and by major manufacturers released the figures. It said, even the market leader is struggling. “Samsung’s smartphone production fell 10% in the second quarter to 53.8 million units as the distribution period for the Galaxy S24 drew to a close. Nevertheless, Samsung continued to hold onto its title as the market leader.” Like Apple Inc. (NASDAQ: AAPL), it may benefit from a new model.

While Samsung’s production dropped quarter over previous quarter, it was still the leader in market share at 18.8%. Apple’s market share was 15.4% as its unit production dropped 7.9% quarter over quarter.

The Chinese manufacturers, which sell most of their smartphones in their home country, did fairly well. Lead Xiaomi posted production of 41.8 million, and its share of the global market was 14.6%.

Apple may not post strong numbers in the third quarter because the iPhone 16 will not launch until mid-September. It needs to hope, however, that its fourth-quarter figures are a home run.

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