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Apple Soars in China as Sales Rise 84% Year-over-Year

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Apple sales in greater China hit $58.71 billion in fiscal 2015

As you can see in the below chart, Apple (AAPL) recorded sales of $58.7 billion for fiscal 2015 in China. Its sales in fiscal 2013 and fiscal 2014 stood at $27 billion and $31.9 billion, respectively. While sales in China constituted 25% of the company’s total revenues in 2015, they stood at 17.4% and 15.8% in 2014 and 2013, respectively.

Although iPhone sales improved significantly year-over-year, the company’s market share dropped sequentially in fiscal 3Q15. According to a report from Counterpoint Research, Apple’s smartphone market share fell from 17.8% in 1Q15 to 12.2% last quarter.

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Xiaomi dominates the Chinese market

Xiaomi leads China’s smartphone market with a market share of 15.8%. The firm has gotten investments from Qualcomm (QCOM) Ventures. Huawei has the second-largest market share in China, at 15.4%, and the Korean giant Samsung (SSNLF) wasn’t among the top four players in this market for 3Q15.

Apple represents 18.5% and 12.5% of the iShares U.S. Tech. ETF (IYW) and the Power Shares QQQ ETF (QQQ), respectively.

Smartphone market in China expected to shrink in 2015

According to a report by International Data Corporation or IDC on August 25, 2015, China was the largest smartphone market by shipments in 2014. It constituted 32.3% of total smartphone shipments in the year. However, IDC expects the Chinese market to shrink and constitute approximately 29.6% of total global shipments in 2015. It also expects year-over-year smartphone shipment growth to be 1.2% in that period.

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