Apple's Rank in China's Smartphone Market Falls to No.6

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Apple's rank in China's smartphone market, which is set to become the world's largest this year, fell to No.6 in the third quarter as it faces tougher competition from Chinese brands, research firm IDC said on Thursday.

Apple's third quarter ranking was two spots below its position in the second quarter in terms of China's smartphone market share by shipments, IDC said. The U.S. giant's market share in China was under 10 percent in the third quarter.

IDC's release comes a day after Apple's shares fell more than 6 percent, logging its biggest single-day loss in four years, as a result of stiffer competition in the mobile devices market.