Apple and Xiaomi Increase Share in a Slowing Smartphone Market

Market research firm Gartner reported Tuesday that the global smartphone market contracted by 0.4% year over year in the fourth quarter of 2019 and declined 1% in 2019. Among the top five manufacturers, Apple (NASDAQ: AAPL) and China's Xiaomi (OTC: XIACF) were the only players to increase market share in the smartphone space in Q4.

Gartner predicts that iPhone sales returned to growth after four consecutive quarters of year-over-year decline. In the fourth quarter of 2019, iPhone shipments rose 7.8% to 69.5 million units, easily outpacing the overall market.

Apple seems to have benefited from attractive pricing models for its latest lineup of smartphones as well as price reductions for previous-generation models, explained Gartner's Vice President of Research, Annette Zimmermann.

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Source Fool.com