24/7 Wall St. Insights
- Apple Inc. (NASDAQ: AAPL) lost the number two spot in global smartphone sales in August.
- The iPhone 16 likely will help Apple regain the number two spot this month.
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Apple Inc. (NASDAQ: AAPL) lost the number two spot in global smartphone sales to China’s Xiaomi in August. Samsung holds the top spot most months. Will this situation persist as iPhone 16 sales begin?
According to research firm Counterpoint, Xiaomi sales were flat month over month in August. iPhone sales dropped. The data usually show a dip in iPhone sales at the end of the summer, likely because the next generation of iPhone is announced in September. Part of Xiaomi’s success was due to brisk sales in Latin America.
Counterpoint Research Director Tarun Pathak said Xiaomi has recently decided to focus on fewer models. “Besides, it has also re-energized its sales and marketing focus while continuing expansion into newer markets and consolidating its position in existing markets. While entry-to-mid-tier devices continue to show strong performance for Xiaomi, it has also made inroads into the premium segment with foldable and ‘ultra’ devices.”
Counterpoint expects the iPhone 16 to help Apple regain the number two spot. However, its researchers cautioned that as more smartphone companies add sophisticated AI features and foldable phones, Apple may start to lose what has been considered a technology edge.
Prediction: Apple Turns Rotten in October
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