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 pound sterling sees its lowest level against the the US dollar in over 30 years
A subsequent survey that included people of all ages found that somewhat older Americans also are skeptical of capitalism.
California is now the sixth largest economy in the world, surpassing France thanks to a robust state economy and the strength of the US dollar.
Overnight lending rate gets cut by 50 points to 9 percent, while overnight borrowing rate remains unchanged at 7.25 percent
Says 2016 business report 'clear indicator' it is improving its economic record despite fall from 46th to 49th
Turkish Cypriot leader says negotiations on federal system close to completion
Britain votes on June 23 on whether to stay in the 28-member bloc, a choice with far-reaching consequences for politics, the economy, defence and diplomacy on the continent.
1 in 18 families has a member who left Greece after 2010, and 12 pct of new refugees are older than 40
Surplus during Jan.-May period stood at $3.1 billion, says finance minister
Remote, impoverished town expects well-to-do Chinese buyer to spur its fragile economy
Austrian company is to have 75 percent of total stakes of Turkish company after agreement concluded
Apple, Microsoft, Alphabet, Cisco and Oracle hold about $504B, approximately one-third of all corporate cash in the United States
The Fund's head says 'corruption has a pernicious effect on the economy'
Exit would cost average monthly salary for each household, Organization for Economic Cooperation and Development says
Firms to see deterioration in credit metrics as low oil prices impact cash flows
OPEC exporters as well as other non-OPEC producers, including Russia, fail to agree on oil output freeze