Apple faces increasing competition in China's smartphone market

[Photo: from VCG]

Apple's presence in the high-end slice of the market is diminishing. The broader Chinese smartphone market is slowing down too. Apple is hitting a wall in China, UBS analyst Steven Milunovich wrote in note to clients.

The iPhone maker's presence in China peaked in 2015, and it has been downhill from there. "In 2015 the move to 4G and the new iPhone 6/6 Plus form factors drove significant growth for Apple at the expense of Samsung," Milunovich wrote. "We now expect flat China units and little long-term growth," he said.

Apple's historical peak in China was in 2015, when the country represented 25% of iPhone shipments. But its market share has since fallen to 19%, Milunovich said. 

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(Source: Yahoo Business Insider)