
Apple Inc's (NASDAQ: AAPL) short stint as the market's smartphone leader ended in the first quarter, reflecting seasonal softness and the sluggish performance of the overall market amid inclement economic conditions.
What Happened: Apple held 18% of the overall global smartphone market in the first quarter, according to data released by market research firm Canalys. That represented a decline from a 22% share in the fourth quarter but an improvement from 15% a year earlier.