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Apple China iPhone Sales Dive; Huawei Extends Lead in World's Biggest Market

Martin Baccardax

saw its China iPhone sales plunge in the final three months of last year, according to a closely watched industry report published Monday, while rival Huawei Technologies extended its lead in the world's biggest smartphone market. International Data Corp. figures show Apple's iPhone sales fell by an annual rate of 19.9% over the final quarter of last year, clipping its market share to around 11.5% from 11.8% as slowing economic growth, higher prices and longer replacement times kept more of the company's key products on shelves around the world. Huawei, meanwhile, took its market share to just under 30%, thanks to a 23.3% increase in fourth quarter shipments, as the China-backed technology giant continues to extend its lead over foreign rivals.