Apple Inc. may still be delivering in terms of record financial results, but its glory days of global smartphone market share are well behind it. Two reports Tuesday showed China’s Huawei Technologies Co. Ltd. surpassing Apple as the world’s second-largest smartphone provider behind South Korea’s Samsung Electronics Co. Ltd.

The numbers come from IDC Research Inc. and Counterpoint Technology Market Research Inc.’s Market Monitor service, both concurring that Apple now sports only a bronze medal in market share.

IDC’s report said smartphone vendors shipped a total of 342 million units during the second quarter of 2018, a 1.8 percent decline from the same quarter in 2017. Huawei took second place for the first time, and it’s the first time since the second quarter of 2010 that Apple has not held the spot.

The report claimed the Chinese phone maker sold 54.2 million units in the quarter for a 15.8 percent market share, ahead of Apple’s 41.3 million iPhones for a 12.1 percent market share. Market leader Samsung shipped 71.5 million units in the quarter for a 20.9 percent market share but notably saw a decline of 10 percent in volume over a year ago thanks to weak Galaxy S9 sales.

Counterpoint’s numbers were similar, with the research firm reporting a 2 percent drop in global smartphone shipments in the second quarter. The top 10 players in the market now capture 79 percent of the market, leaving more than 600 brands to compete for the remaining 21 percent.

The report attributed the decline in sales to a slowdown in developed markets such as China, the U.S. and Western Europe, where replacement cycles are lengthening.

Tarun Pathak, associate director at Counterpoint Research, said Huawei managed its feat by launching premium smartphones and capturing the midtier segment with its fast-growing Honor brand.

“Huawei with its Honor brand is offering a broad and refreshed portfolio at an affordable price, which is driving growth in the overseas market,” Pathak added. “Honor, which is already strong in the e-commerce segment, is now adopting a multichannel strategy through branded stores in the South East Asia market. We expect store counts to increase in the future.”

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