Apple doing great in Hong Kong

A new Apple Store in Causeway Bay to open December 15.

Apple’s third store will launch less than three months after the second store in late September. Hong Kong is only of a very few smartphone markets in the world where Apple holds a far larger share than Samsung Electronics Company.

Apple accounted for 53% of Hong Kong’s smartphone market in terms of shipments in the third quarter while Samsung, the second-largest vendor, held a 21% share, according to research firm IDC.

Samsung, however, is the world’s largest smartphone vendor. It is steadily increasing its market lead over Apple because overall market growth is BEING fueled by explosive demand for cheaper smartphones that cost very much less than the expensive iPhone.

Apple’s large market share in Hong Kong is because some of the iPhones sold in Hong Kong are subsequently sold in mainland China.

Samsung held a 31% market share worldwide in the third quarter while Apple followed with a 15% share. Apple’s market share by volume is on the decline, however.

In the third quarter, Apple was the sixth-largest smartphone vendor in China with a 7% share of the market, down from 9% a year earlier. Ahead of Apple were Samsung, the biggest vendor, and Chinese players such as Lenovo Group Ltd., ZTE Corporation and Huawei Technologies Company.

Apple’s revenue in Greater China rose 78% to US$23.8 billion in the fiscal year ended September, or 15% of Apple’s overall revenues. Apple has seven stores in mainland China; an eighth will open on December 15.