Global smartphone shipments increased 7.8% year-over-year (YoY) to 289.4 million units in the first quarter of 2024, with Samsung overtaking Apple and clinching the top spot by selling 60.1 million units and securing a 20.8% market share. Apple saw its shipments decline by 9.6% YoY to 50.1 million units, while Samsung experienced a smaller decrease of 0.7%. The sales at the two companies suffered as Xiaomi and Transsion saw sales increase by 34% and 85% respectively. Apple's sales decline follows a strong performance in the previous quarter when it overtook Samsung as the leading phone maker, driven by the rising popularity of premium devices and the company’s aggressive trade-in offers and interest-free financing plans. Its downturn is driven by challenges in key markets, including restrictions imposed by some Chinese companies and government agencies, limiting employees' use of Apple devices, mirroring the US government’s measures on restricting some Chinese apps on security grounds.