Apple's (AAPL) stock rebounded slightly Friday morning after Canalys reported a steep drop in iPhone sales in China, prompting Apple to slip to third place in Chinese smartphone sales rankings behind Huawei and Vivo.

Apple was dethroned as China's biggest smartphone seller in 2024, with local rivals Vivo and Huawei overtaking the iPhone maker after its annual shipments in the country declined 17%, data from research firm Canalys showed on Thursday.

Apple took the number one spot but saw a 25% year-over-year decline after having shipped 13.1M units in the fourth quarter of 2024. The company had 17% of the Chinese smartphone market at the end of the fourth quarter, compared to 24% in the year-ago period.

Apple ( NASDAQ:AAPL) slips fractionally in premarket trading after losing its top spot in China's smartphone market in 2024. Local brands Vivo and Huawei move ahead as Apple's shipments drop 17% to 42.9 million units, bringing its market share down to 15%, according to Canalys.

Apple was dethroned as China's biggest smartphone seller in 2024, with local rivals Vivo and Huawei overtaking the iPhone maker after its annual shipments in the country declined 17%, data from research firm Canalys showed on Thursday. Julian Satterthwaite reports.

Apple was dethroned as China’s biggest smartphone seller in 2024, with local rivals Vivo and Huawei overtaking the iPhone maker after its annual shipments in the country declined 17%, data from research firm Canalys showed on Thursday.