Apple Stock News
For the latest Apple Stock News, AAPL closed at $135.67 on Friday, February 17, 2017 with a 0.24% gain, from its previous close of $135.34 per share.
This week Apple surpassed Samsung in market share during the fourth quarter of 2016. Now, new data from Canalys offers up a closer look at the smartphone market and China. Apparently, Apple is struggling to keep up with younger manufacturers such as Xiaomi.
Smartphone shipments in China hit 131.6 million during the fourth quarter of 2016. That’s the largest quarter total in history for the Chinese market. According to Canalys, smartphone shipments in China hit 476.5 million during 2016, an increase of 11.4 percent year-over-year.
In 2016, Xiaomi shipped 51.4 million units to take the fourth spot in the market. Apple, on the other hand, shipped 43.8 million smartphones, a decline of 18.2 percent compared to the year before. Due to its drop, Apple fell to be the fifth largest smartphone manufacturer in China, while Xiaomi leapfrogged to become third overall.
Although Apple shipped less smartphones this year, CEO Tim Cook remains optimistic about Apple’s future in China. Tim Cook and CFO Luca Maestri explained during Apple’s most recent earnings call that China represents a huge driver of growth. Specifically, Apple points to China as a driver of its ever-growing Services sector.
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