Apple and Samsung, the world’s top two smartphone makers, saw their global market shares decline last year, marking the first such drop in eight years since 2016. According to market researcher IDC on Jan.

In 2024, the global smartphone market saw growth for the first time in two years. While Apple and Samsung faced declines, Xiaomi emerged as the fastest-growing brand among the top players.

Global smartphone shipments increased 2.4% year-over-year to 331.7 million units in the fourth quarter of 2024 with Apple (NASDAQ:AAPL) and Samsung Electronics (OTCPK:SSNLF) taking the top two spots,

Smartphone shipments for Apple and Samsung declined in the fourth quarter globally, as they grapple with intense competition from Chinese companies including Xiaomi, according to preliminary data from the International Data Corporation (IDC) on Monday.

Phone shipments surged to grab 23 per cent of the market in the final quarter of 2024, as a rebounding market saw growth start to slow.