IDC: Competition in China intensifies, Apple and Samsung mobile phone sales decline

Story: Apple and Samsung mobile phone sales fell in the fourth quarter as competition from Chinese rivals intensified.

This is the conclusion drawn from the latest data released by data analysis agency IDC on Monday.

The report said that during this period, the global smartphone market actually rebounded strongly after two years of decline.

But it is Chinese brands that benefit.

Xiaomi has grown the fastest, with shipments growing by more than 15%.

Other companies including Oppo also made gains.

All told, Chinese manufacturers account for 56% of the global smartphone market, their highest share ever.

Meanwhile, Apple’s shipments fell 4.1% during the same period.

The U.S. giant resorted to rare discounting to turn things around.

This month, the company slashed prices on some iPhones in China by as much as nearly $70.

As for Samsung, shipments fell 2.7% in the quarter.

It is one of the companies grappling with one of the market’s major disappointments: waning consumer interest in foldable phones.

IDC said demand for foldable devices has declined despite increased promotions and marketing.

In response, manufacturers are now shifting research and development spending away from such devices, the company said.