NVIDIA Suffers Historic One-Day Market Value Loss
NVIDIA faced a record-breaking single-day drop in market capitalization, losing 9.5% and erasing $278 billion on Tuesday.
Logo of Apple
In a surprising shift in the Chinese smartphone market, Apple has fallen out of the top five vendors for the first time and according to a recent report by Canalys, Apple’s market share in China dropped to 14% in the second quarter, down from 15% in the previous quarter and 16% a year ago.
This decline saw Apple slip from third to sixth place, with approximately 9.7 million units shipped.
Domestic brands have surged to dominate the top positions. Vivo regained the top spot with a 19% market share, driven by strong sales during the "618" e-commerce festival. Oppo followed in second place, while Honor, Huawei, and Xiaomi completed the top five.
The success of these Chinese brands can be attributed to their strategic focus on high-end products and robust collaboration with local supply chains. For instance, Honor’s latest Magic V3, which leverages generative AI, has significantly enhanced the user experience of foldable devices.
Overall, the Chinese smartphone market grew by 10% year-on-year in the second quarter, with shipments exceeding 70 million units. This growth highlights the increasing competitiveness and innovation within the market.
