Investing.com -- Global smartphone shipments for tech giants Apple (NASDAQ:AAPL) and Samsung (KS:005930) experienced a decrease in the fourth quarter, as the companies faced heightened competition from Chinese firms, including Xiaomi (OTC:XIACF), based on preliminary data released by the International Data Corporation (IDC) on Monday.
In the fourth quarter, Apple's global shipments saw a 4.1% decrease, amounting to 76.9 million units. Similarly, Samsung's shipments experienced a 2.7% downturn, totaling 51.7 million units.
This decline is attributed to increased competition from Chinese companies such as Xiaomi, Oppo, and Honor, as per the IDC.
In 2024, Apple led the global smartphone market with an 18.7% share, closely followed by Samsung with an 18% share, and Xiaomi with a 13.6% share.
Despite their leadership positions, Apple and Samsung saw a slight decrease in their shipments in the past year. Apple's shipments fell by 0.9% and Samsung's by 1.4%.
In contrast, Xiaomi demonstrated the most rapid growth among the top five smartphone brands, with a 15.4% increase in shipments.
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