Apple (AAPL) is advancing 4% today after a research firm reported that the company’s iPhones were the best-selling smartphone in China last quarter. Earlier this month, another research firm stated that AAPL had dropped to third place in terms of smartphone market share in the Asian country.
An Apple store displaying the latest in consumer electronics, from smartphones to wearables.
The iPhone Was Reportedly the Q4 Market Share Leader in China
The device’s market share in China came in at 17.4% last quarter, the International Data Corporation (IDC) reported. That was slightly above second-place Huawei’s 17.2% share. However, the device’s market share was significantly lower last quarter than in Q4 of 2023, when it controlled 20% of the market. Further, for all of 2024, its market share dropped to 15.6% from 17.4% in 2023.
Last week, another research firm, Counterpoint, reported that the iPhone’s market share had been 17.1% in China last quarter, leaving the device in third place in the huge market. Counterpoint added that the number of devices handed over by Apple in China had tumbled 18.2% in Q4 versus the same period a year earlier. In Q4 of 2023, iPhone’s market share was 20.2%.
The Recent Price Action of AAPL Stock
In the last month, the shares have fallen 4.5%, while they are up 2.5% in the last three months.
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Disclosure: None. This article is originally published at Insider Monkey.