World Bulletin / News Desk
Apple Inc's share of China's smartphone market almost halved to 10 percent in the second quarter as buyers waited for the next iPhone model - expected later this year - or switched brands, data from industry research firm IDC showed on Friday.
Smartphone shipments in China overtook feature phones for the first time in April-June, with domestic vendor Lenovo Group Ltd knocking Apple from second place in the world's largest mobile market, the data showed.
April-June smartphone shipments totalled 44 million, accounting for 51 percent of China's total mobile shipments of 87 million, IDC said.
"There are two things in play," said IDC analyst TZ Wong, referring to Apple's drop in ranking and market share.
"One is seasonal, people know the new phone is coming. And the second is that the alternatives are becoming much more attractive than a year ago. The iPhone didn't change much over the year."
Lenovo, the world's No.2 vendor of personal computers which makes the LePhone, took 11 percent market share in China in the second quarter, up from a single-digit percentage in the first quarter when it was ranked 7th, the data showed.
South Korea's Samsung Electronics Co Ltd retained its lead in the Chinese smartphone market with a share of around 16 percent, little changed from the first quarter.
Apple slipped to fourth position, with China's ZTE Corp in third and local rival Huawei Technologies Co Ltd fifth.
Global handset vendors, such as Samsung and Nokia Oyj , have been chasing increased market share in China, where there are more than 1 billion mobile subscribers. China is set to overtake the United States as the world's largest smartphone market this year.
Demand for smartphones is being fuelled by a combination of generous handset subsidies by China's three telecom carriers, a growing technology awareness among Chinese consumers and more feature-packed and affordable products.
Global economic trend does not augur well for developing countries: UN Conference on Trade and Development report
"We will look carefully at tax rulings issued by Luxembourg to GDF Suez," Vestager said in the Commission statement.
The Bank for International Settlements (BIS) -- dubbed the central bank of central banks -- said a gauge of Chinese debt had hit a record high in the first quarter of the year.
Civil claims involve bank's mortgage activities
Adeosun said that the bonds are expected to go on sale in December, with the proceeds channelled into capital projects.
May also ruled out a new general election anytime soon, saying Britain needed stability following June's referendum vote to pull out of the European Union.
A 2nd airport would put Rwanda on par with its regional peers, as more tourists flock to East Africa
Country GDP shrank by 2.06 percent in second quarter of 2016
Afghan traders worried fruit exports are rotting after two-week border closure
Foreign trade minister says Trans-Atlantic Trade and Investment Partnership negotiations should stop
Overnight lending rate gets cut by 25 points to 8.50 percent; overnight borrowing rate remains unchanged at 7.25 percent
"It appears that a programme of public spending in Germany would not be the most appropriate tool to help give a strong stimulus to the international economy," the central bank said following a study into the issue.
The 0.3 percent quarterly gain was in line with average forecasts compiled by data company Factset.
Qatari Ambassador to Ankara says bi-lateral trade could double through committment to undertake further investments in Turkey
Radical cleansing will start a new era in Turkey, says the head of the Turkish Cooperation and Development Agency (TIKA)