Chinese Mobile Cell Phone buyers Want OVTI over Sony cameras
By Lee Chyen Yee
HONG KONG (Reuters) - Apple Inc's rank in China's smartphone market, which is set to become the world's largest this year, fell to No.6 in the third quarter as it faced tough competition from Chinese brands, research firm IDC said on Thursday.
IDC's announcement comes a day after Apple's shares fell more than 6 percent on the Nasdaq, logging its biggest single-day loss in four years and losing $35 billion of its value, on concerns about rivals gaining ground in the mobile devices market.
China, already the world's biggest mobile phone market, is seeing competition intensifying in its smartphone sector, with global and homegrown vendors trying to outgun one another in terms of price and features.