For the first time Apple has overtaken arch-rival Samsung to become the largest smartphone vendor in the rapidly growing Chinese market by units shipped, reports data firm Canalys.
Despite an average selling price nearly double that of its nearest competitors, Apple's iPhone 6 and 6 Plus have been an enormous success in China with sales rising by 70% in the fourth quarter of 2014. Although the United States remains Apple's biggest market for the iPhone.
As well as arch rival Samsung (3rd), Apples faces strong competition from local Chinese firms such as Xiaomi and Huawei (2nd and 4th place respectively). Apple's success in China is contrary to the trend of recent years, which have seen Chinese companies expanding rapidly in the global market.
Sales of the iPhone have also been strong elsewhere, doubling in Singapore and Brazil. In total 74.5 million were sold, surpassing analysts expectations of fewer than 70 million.
As a result revenue rose to $74.6 billion from $57.6 billion a year earlier and a profit of $18 billion, the largest ever reported by a publically listed company. Apple now holds $178 billion in cash, enough to buy IBM outright.
