Apple Faces Worst iPhone Slump Since Covid as Rivals Rise
- Global smartphone market rebounded in first quarter, IDC says
- Apple recorded 10% decline as slumping China sales weighed
Apple Inc.’s iPhone shipments slid a worse-than-projected nearly 10% in the quarter ended in March, reflecting flagging sales in China despite a broader smartphone industry rebound.
The company shipped 50.1 million iPhones in the first three months of the year, according to market tracker IDC, falling shy of the 51.7 million average analyst estimate compiled by Bloomberg. The 9.6% year-on-year drop is the steepest for Apple since Covid lockdowns snarled supply chains in 2022, the researchers said.