Apple Inc. (NASDAQ: AAPL) lost its number two position in global smartphone sales to Xiaomi in August, largely impacted by dropping iPhone sales prior to the iPhone 16 launch.
Counterpoint Research's Tarun Pathak attributes Xiaomi's success to a focused product strategy and aggressive market expansion, particularly in premium segments with innovative offerings.
Counterpoint anticipates that the upcoming iPhone 16 will likely help Apple reclaim its position in the smartphone market, but warns of intensified competition due to new technologies.
As smartphones with advanced AI features and foldable designs begin to rise, Apple could face challenges to its previously held technological advantage.
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