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.
The ruble makes small gain Friday morning, but RTS index continues to contract
Norwegian energy company Statoil, which suspended 5 rigs in the last 2 months, granted $610 million for development of its gas fields
Putin earlier announced pipeline project via Bulgaria would be cancelled.
President Vladimir Putin said that Russia needed to take the opportunity to diversify its economy to protect it from external shocks.
Verdi said in a statement that workers at four of those centres had decided to continue their strike until Saturday and employees at the Graben warehouse would strike until Dec. 24.
Russia suffers as sanctions bite economy; will crisis make Ukraine conflict too costly?
EU to tighten sanctions on Crimea in time for leaders summit to send message to Russia
The Organization of the Petroleum Exporting Countries declined to cut production at a Nov. 27 meeting and, despite slumping prices, major Gulf OPEC members have since shown no sign of reversing course
Iran plans to export petrochemical products to Europe after one year of U.S.-led sanctions on its petchem market
Russia's central bank took drastic action to defend its rouble currency in a surprise midnight raising of interest rates by 650 basis points to 17 percent.
It argues that a major submarine ridge of the Arctic Ocean is an extension of its autonomous Greenland.
Russia is the second biggest exporter of illicit money, India is fourth, Brazil seventh and South Africa is 12th, according to the report.
Brent for January fell to a low of $60.28 a barrel in Asian trade, down $1.57 and its lowest since July 2009
Energy cooperation will be one of the topics on the agenda
Labour union Verdi said the strike had started at five of Amazon's nine distribution centres in Germany but added it would only know later in the day how many workers participated
Abdullah al-Badri said the oil price, which dropped to a succession of five-year lows in recent days, had fallen further than market fundamentals should have dictated