• Apple faced a significant setback as iPhone shipments dipped by a worse-than-anticipated 10 percent in the March quarter, reflecting a decline in sales, particularly in China, despite a broader rebound in the smartphone industry. According to market tracker IDC, the company shipped 50.1 million iPhones in the first three months, falling short of analyst estimates. This 9.6 percent year-on-year drop is the steepest for Apple since the disruptions caused by Covid-19 in 2022.

• The resurgence of competitors like Huawei Technologies and Xiaomi, along with a Beijing ban on foreign devices in workplaces, has contributed to Apple's struggle to maintain sales in China since the release of its latest iPhone generation in September. The decline in iPhone shipments comes at a time when the overall mobile market is experiencing its best growth in years, with smartphone makers shipping 289.4 million handsets in the period, marking a 7.8 percent increase from a year ago.