Apple, Samsung Smartphone Sales Slip On Increased Chinese Competition

NEW YORK (TheStreet) -- According to a new research report from IDC, the past three months were great for global smartphone sales, but Samsung and Apple (AAPL)  lost market share Chinese smartphone manufacturers, including Huawei and Lenovo.

Samsung shipments plunged to 74.3 million phones one year ago down from 77.3 million units in the second quarter, retaining only 2.52% of the market, down from 32.3% in the year ago quarter. Samsung's product portfolio, which includes the S5, S4, and S3 didn't help the South Korean-based company. "Samsung lost 7% market share compared to a year ago, despite having one of the largest smartphone portfolios of all OEMs," IDC said in the press release.

Samsung has yet to respond to a request for comment on the survey.

Seoul-based Samsung was not alone when it comes to losing market share, as Apple saw its share dip to 11.9% from 13% in the same time frame, despite iPhone shipments rising to 35.1 million units from 31.2 million in the calendar second quarter. IDC notes "Apple's second quarter is always its seasonal low of the year, but even more so this time in advance of the iPhone 6, with consumers holding their collective breath for the long-awaited bigger screens."

IDC's Worldwide Mobile Phone Tracker for the second quarter of 2014 shows the worldwide smartphone market grew more than 23% year over year with record shipments of 295.3 million units. That's a rise of 2.6% over the first quarter. IDC predicts shipments to reach the 300+ million units in the third quarter with the upward trend continuing for the rest of the year.

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