Samsung gains US market share as Apple slips

Samsung increased its share of the US smartphone market in the second quarter while Apple’s declined, intensifying competition as both companies roll out devices with new features to lure customers.

Data from Canalys showed shipments of the South Korean company’s phones boosted its market share to 31% from 23% a year earlier, while iPhone maker Apple’s share fell to 49% from 56%.

Apple still dominates the US smartphone market, accounting for the majority of new handset sales. But the latest shifts point to strains in its performance for the first time in more than a decade, contributing to a 7.5% drop in its stock so far this year.

In July, Samsung launched two new foldable-screen smartphones, the Galaxy Z Fold7 and Galaxy Z Flip, adding to the Galaxy-branded lineup it released earlier this spring.