Apple Inc. (AAPL) Is No Longer Top Dog in China

AAPL stock may not be the top dog in China anymore, but Apple stock remains strong

Earlier this week, research firm IDC released a report indicating that, for the first time ever, Apple Inc.’s (NASDAQ:AAPL) iPhone shipments to China have decreased significantly. According to the report, shipments of iPhones to China decreased last year to 44.9 million, a 23.2% decrease from 2015.

Apparently, Chinese smartphone makers, particularly Oppo, Vivo and Huawei, have increased market share in the region by offering “higher-end gadgetry that appeals to consumers seeking Apple-like quality and innovation.”

This has led to an overall decrease in the AAPL market share in China, down to 9.6% from 13.6% in 2015, and a subsequent drop in revenue — Apple’s “fourth consecutive year-over-year dip in the region” — by 11.4%.

This new situation is potentially disconcerting to a number of analysts and investors, as China has presented a fantastic opportunity for growth in years past.