San Francisco, CA – Apple experienced a nearly 10% decline in iPhone shipments globally during the first quarter of 2024, facing intensified competition from Chinese competitors like Xiaomi and Transsion. According to a report from the International Data Corporation, Apple shipped 50.1 million units in the first quarter, down 9.6% from the previous year’s 55.4 million units. This decrease marked the steepest decline among the top five smartphone brands.
On the other hand, Samsung reclaimed the top spot in the smartphone market in the first quarter, capturing a 20.8% market share and shipping around 60.1 million units, a similar number to the previous year. Apple’s market share dropped to 17.3% from 20.7% a year ago, losing its position as the largest smartphone maker it held in 2023.
India saw a rise in wholesale price inflation for March at 0.53%, slightly above Reuters’ forecast of 0.51%. This increase was driven by higher prices of food, crude petroleum, natural gas products, minerals, and non-food articles. Unlike the consumer price index, which focuses on goods bought by consumers, India’s Wholesale Price Index measures the price changes of goods traded between corporations.
In another sector, Gold prices rebounded after falling on Friday as tensions between Iran and Israel escalated, leading investors to seek safe-haven assets. Spot gold prices increased by 0.61% to $2.356.34 per ounce, while gold futures for April rose by 0.1% to $2,358.5 per ounce.
China Vanke, a Chinese real estate firm, announced that it is facing short-term liquidity pressures and operational challenges. The company disclosed plans to stabilize its operations, reduce liabilities, and lower its debt scale by 100 billion yuan over the next two years. Despite the difficulties, Vanke affirmed its commitment to delivering all projects on time and with high quality.
In the oil sector, stocks in Asia fluctuated after Iran launched a drone strike against Israel during the weekend. Australian oil companies like Woodside Energy, Santos, and Beach Energy experienced mixed results, while Japanese companies like Japan Petroleum and Eneos Holdings saw varied stock prices as well. In South Korea, oil stocks showed a similar trend, with SK Innovation and S-Oil leading the market cap on the Kospi.
In conclusion, the global market presents a dynamic landscape with shifts in smartphone sales, inflation rates, gold prices, real estate challenges, and oil stock fluctuations amid escalating geopolitical tensions. These developments highlight the interconnectedness of various industries and the impact of geopolitical events on market performance.