NEW YORK, NY--(Marketwire -08/17/12)- The tablet market has been expanding at a rapid rate. Recent data from technology research firm IDC has shown that worldwide tablet shipments in the second quarter totaled 25 million. The number represents a 34 percent increase from the first quarter, and a "robust" 66 percent growth rate year-over-year. The Paragon Report examines investing opportunities in the Technology Sector and provides equity research on Apple Inc. (AAPL) and Microsoft Corp. (MSFT).
"Record setting" shipments of Apple's iPad made up the majority of the tablet market with 17 million units shipped, beating the previous record of 15.4 million in 4Q11 and up from the 11.8 million in 1Q12. Four of the top five tablet producers also saw strong year-over-year increases. Samsung came in second with 2.4 million units shipped, more than double the 1.1 million from a year ago. Amazon rebounded with 1.2 million units shipped after a sluggish first quarter.
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IHS recently reported that Apple's market share surged to 69.6 percent in the second quarter from the 58.1 percent in the first quarter. Despite Apple's dominance IDC is predicting that competition within the tablet market will heat up in the second half of the year, as new competitors look to enter the market place.
"In addition to major new products from Amazon and quite likely Apple, we can also expect an influx of Microsoft Windows 8 and Windows RT-based tablets starting in late October," Bob O'Donnell, IDC program vice president of clients and displays, said in a statement. "If anything, there's a real risk that people will have too many options from which to choose this holiday season."
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