November 23rd, 2011
07:00 AM GMT
Hong Kong (CNN) – China has surpassed the U.S. last quarter to become the world’s largest market for smartphones, according to a report by Strategy Analytics.
In the third quarter of this year, smartphone shipments were just shy of 24 million units, up 58%, according to the report released Wednesday. In the same quarter, smartphone units shipped in the U.S. fell 7% to 23.3 million units.
Nokia leads the smartphone market with a 28% share in China, followed by Samsung with a 17.6% share. HTC is the top maker in the U.S. with 24% market share, followed by Apple with just over 20%, according to the report. The U.S. still leads the world in smartphone sales by revenue, the authors of the report note.
Beer sales in China passed the U.S. in 2002, while China passed the U.S. as the world’s top buyer of energy-related commodities – such as oil and coal – in 2009, according to the International Energy Agency.
China now has half a billion people online, according to the State Council Information Office, or nearly two-thirds more people using the internet than the entire population of the U.S.
Economists widely predict the Chinese economy will eventually eclipse the U.S. economy sometime in the next 20 years. In 2010, China’s GDP was about $5.9 trillion compared to the U.S., whose total economic output was $14.5 trillion.
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