Apple Inc. (NASDAQ:AAPL) is actually the smart money’s second favorite publicly traded company but hedge funds have started dumping Apple in favor of a surprising financial stock (see which stock hedge funds are buying like crazy).
While Apple continues to fight for market share, there are other companies that are doing quite well in China.
According to data from Strategy Analytics, as posted via the Yonhap, Samsung is top dog in China right now.
Here is what the article had to say:
“South Korean tech giant Samsung Electronics Co. claimed the top spot in the Chinese smartphone market for the first time in 2012 by nearly tripling its sales in the world’s largest market.”
“Samsung Electronics sold 30.06 million smartphones in China last year, up from 10.90 million units a year earlier, garnering a 17.7 percent market share, according to the data by market researcher Strategy Analytics.”
As you can see, Apple Inc. (NASDAQ:AAPL) may be talking about making waves in China but Samsung has actually made a lot of progress over the past year.
As Samsung has moved to the top of the market, other companies have taken a backseat. For example, Nokia, which once had a huge presence in the country, saw its numbers droop from 29.9 percent in 2011 to roughly 3.7 percent this past year.
In second place was Lenovo with 13.2 percent market share. They were followed in third by Apple Inc. (NASDAQ:AAPL) with 11 percent market share. Huawei and Coolpad rounded out the top five.
As you can see, Apple Inc. (NASDAQ:AAPL) has a lot of catching up to do if the company is going to chase down Samsung in the near future.
What are your thoughts on this data? Share your opinion in the comment section below.
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DISCLOSURE: I have no positions in any stock mentioned.
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