There’s more bad news for Apple (NASDAQ:AAPL) to follow up on Wednesday’s announcement of a Nokia (NYSE:NOK) and China Mobile (NYSE:CHL) marriage. According to a fresh report from IDC, Apple’s position in China’s rapidly growing smartphone market is down No. 6 as local brands start taking charge.
What Does China’s Smartphone Market Look Like for Apple?
Apple’s China market share by shipments was under 10 percent in the third quarter, in the same three-month period that the country’s overall shipments hit a record high at more than 60 million units, Reuters said. In the second quarter, Apple was in the fourth spot. Samsung and Lenovo came in at one and two, respectively, the same as in the last quarter. Chinese brand Coolpad jumped three spots to take the third position, while ZTE dropped one place to No.4 and Huawei Technologies was No.5, IDC said. The research firm did not give the market share numbers of any company except Apple, Reuters said.
Our 20-page proprietary analysis of Apple’s stock is ready. Click here and to get your Cheat Sheet report now!
“Chinese vendors Coolpad, Lenovo, and ZTE made it to the Asia Pacific ex-Japan top 5 vendors on strong performance in their home market, showing that it is not impossible for Chinese vendors to surpass international vendors,” IDC’s Wong Teck-zhung said in a statement.
The research firm did not have all bad news for Apple, though…