Phoning It In

Hi, today we explore: (1) Samsung's dethroned Apple, (2) Coachella could be past its peak, (3) Where Americans are paying the least tax. Good morning! Happy Patriots' Day to all those observing, and good luck to anyone running the Boston Marathon today — to everyone else, have a (reasonably) nice Tax Day... Today we're exploring: - Phoned in: Samsung dethroned Apple as top smartphone seller. - The dust settles: Coachella might be past its peak. - 'Tis the season: Which states pay the most tax? Have feedback for us? Just hit reply — we'd love to hear from you! TOGETHER WITH Hold the phone Samsung has reclaimed its position as the world's largest smartphone seller, dethroning Apple in the first quarter of 2024. Preliminary data from research firm [International Data Corporation]( (IDC) revealed that Samsung shipped a market-leading 60 million units, some 20% more than Apple during the same period. Although Samsung's return to the top spot is not entirely surprising — iPhone sales historically peak in the fourth quarter, and the two smartphone giants constantly tussle for #1 — what is noteworthy is the nearly 10% year-over-year decline in Apple's sales, as demand for its products in China falls. By contrast, Samsung sales were flat, and overall smartphone shipments grew 8%. Samsung only has a small foothold in the Chinese market, while Apple was a major player in the region last year, boasting over 17% [market share](. And, like in so many other sectors, Chinese consumers are increasingly opting for a “Made in China” option, with Apple facing intense competition in the nation from rivals Transsion and Xiaomi, both of which reported strong double-digit growth in the most recent quarter. With fewer groundbreaking new features in recent releases, consumers are also [holding onto]( their devices for longer. Apple has been working hard to diversify away from the iPhone, but the product remains the primary gateway into the Apple ecosystem and its infamous [w]( garden]( — and the slump in sales comes at a tough time. The recently launched Vision Pro headset is struggling to gain traction, and the company faces a DOJ lawsuit over the iPhone's alleged monopolistic power. All told, the company’s shares have lagged the wider market (S&P 500) by 13% this year. [Read this on the web instead]( Slowerchella Doja Cat brought the first weekend of this year's Coachella to a close last night with a set that was heavy on guest stars (including a crew of dancing yetis), but light on many of her biggest hits, leaving some attendees and viewers at home [a little disappointed](. Coachella 2024 — the 23rd installment of the festival, which has been held at the Empire Polo Club in Indio, California almost every year since 1999 — has had a tough time by its own hyped-up high standards. Indeed, the festival has seen the slowest ticket sales in 10 years, leading some to speculate that the Valley party might be [past its peak]( with preliminary data from Google Trends also revealing a modest decline in the number of searches for the desert event since online interest topped out in 2018. Along with fellow headliners Lana Del Rey and Tyler, the Creator, Doja Cat represents a shift away from Coachella’s rockier, more [independent origins](... but it’s not just the acts on the festival's lineups that have started to look a lot different in recent years. Indeed, Coachella critics like to point to “[brand houses]( and the “[I]( Olympics]( feel of the modern festival as examples of its corporatization and reasons for its waning popularity. [Read this on the web instead]( [Sponsored by RAD AI]( Invest in This AI Start-Up Dubbed ‘Game-Changing Tech’ by Fortune 1000 Execs* Meet the AI startup that is disrupting the $633BN content and data industry. [RAD AI]( is helping brands create content that lands with their target customer and, most importantly, delivers outsized ROI. Cisco just spent $28B on its largest AI acquisition ever, and Reddit’s move to license data for AI has single-handedly re-energized the IPO market. That's the market power of AI… As for RAD, [the potential is evident by the numbers]( - $27M raised since 2018 from 6,500+ investors, including VCs and execs at Google, Amazon and Meta. - ~3X revenue growth from 2022 to 2023 — while landing major clients, including Hasbro, Skechers, Sweetgreen, and more. - Leadership has 5 exits between them. With all eyes on the AI market, RAD is looking for early investors who want to get ahead of the curve. [The investment round closes this month — but you can still get in here.**]( Report for duties As many Americans collectively exhale having filed their tax returns for 2023, they might remember Benjamin Franklin’s immortal sentiment: nothing can be said to be certain, except death and Tax Day. Millions of others, however, will be spending April 15th frantically preparing to meet tonight’s 11:59 pm deadline. Indeed, those in the throes of filing can delight in the [IRS’s promotion]( of “improved customer service”, as the ~100m who’ve already sent returns can enjoy [less procedural promos]( from the likes of Krispy Kreme. But if lower taxes are a priority for you: where should you move? Anchorage, Alaska wouldn't be a bad choice — Alaskans enjoy the lowest tax burden, at just a 4.9% income share, while citizens of Florida (6%) and Texas (7.6%) savor the spoils of no state income tax. New York, on the other hand, has the highest tax burden of any state, with a more than 12% share of average personal income being paid in property, individual income, and sales and excise taxes. And it seems these low taxes are working to attract new residents. Sun Belt hotspots have seen swathes of high-earning households (>$200k per annum) up sticks from traditional financial centers to break lower-tariff ground: according to [SmartAsset]( a net influx of more than 27k high-earners migrated to Florida between 2020-21, while New York and California saw net outflows of 20k and 27k higher-tax residents, respectively. [Read this on the web instead]( More Data • The Dogfather: A British golden retriever called Trigger is retiring from a guide dog charity’s breeding programme after fathering some 300 puppies across his [9-year tenure](. • Rent the Runway last week revealed intentions to double down on its use of AI tools… shares obviously soared more than 220% following [the announcement](. • Brands like Hasbro, Skechers and Sweetgreen are [adding RAD AI]( into the customer content mix and seeing up to 3.5X ROI across campaigns. RAD AI’s current investor base of 6500 includes execs from Google, Amazon and Meta — [now’s your chance to join them]( • Sales of Western-style boots have surged more than 20% in the week after Beyonce released her country album [Cowboy Carter](. • TikTok and YouTube are taking chunks out of Google’s search dominance… at least [with Zoomers]( 21% of whom start their information quests on Tiktok, while 5% get theirs underway on YouTube. ***This is sponsored content. Hi-Viz • Great [viz deep dive]( on the "Cicadapocalypse" of 2024. Off the charts: Which major streamer is reining in its content spending as part of a company-wide shake up to cut movie costs and produce a more [varied output]( [Answer below.] [Answer here](. Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi%2C%0A%0AI%20like%20the%20newsletters%2C%20but%20I%20had%20a%20thought%20for%20you...) or want to [sponsor](mailto:james@sherwoodmedia.com?subject=Chartr%20Advertising&body=I%E2%80%99m%20interested%20in%20learning%20about%20advertising%20in%20Chartr...) this newsletter? Advertiser’s Disclosure: *Executives are also advisory board members, and clients of RAD AI. **This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the offering circular and related risks at [invest.radintel.ai](. Equity crowdfunding investments in private placements, and start-up investments in particular, are speculative and illiquid. 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