Apple was dethroned as China's biggest smartphone seller in 2024, with local rivals Vivo and Huawei overtaking the iPhone maker after its annual shipments in the country declined 17%, data from research firm Canalys showed on Thursday.

The US-based company lost its leadership position last year, but it still had the best Q4 - only just. Canalys reports that 2024 was a year of recovery

Apple's (AAPL) stock rebounded slightly Friday morning after Canalys reported a steep drop in iPhone sales in China, prompting Apple to slip to third place in Chinese smartphone sales rankings behind Huawei and Vivo.