Apple (NASDAQ:AAPL) reportedly slipped in rank to the No. 7 vendor in the all-important Chinese smartphone market during the second quarter. Canalys now estimates that Apple's downward trend has reversed and moved up to the No. 5 spot with a 6% market share. Apple's new iPhone 5s and iPhone 5c played a large role in that, as they were both launched at the end of the quarter. Notably, this was the first time China was included in the first batch of launch countries.
As far as other positive catalysts on the horizon, the deal with China Mobile (NYSE:CHL) could be imminent, with recent leaks suggesting a launch date as early as Nov. 11. That's less than a week away and would open up a whole new world of opportunity for Apple. In addition, Apple continues to expand its retail presence and currently has only 12 Apple Stores in Greater China.
In this segment of Tech Teardown, Erin Kennedy discusses Apple's improving picture in China with Evan Niu, CFA, our tech and telecom bureau chief.
Erin Kennedy and Evan Niu, CFA, both own shares of Apple. The Motley Fool recommends Apple and owns shares of Apple and China Mobile. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.