The momentum in the wake of the iPhone 12 launch has given Apple Inc (NASDAQ: AAPL) the lead in smartphone market share and shipment volume in the fourth quarter. Overall Smartphone Market Slips: Global sales of smartphones fell 5.4% year-over-year in the fourth quarter, according to a new report released by Gartner Inc (NYSE: IT). For the full year 2020, shipments were down a steeper 12.5%. The slower rate of decline the fourth quarter relative to the full year was attributed to sales of more 5G smartphones and lower-to-mid tier smartphone sales. “Even as consumers remained cautious in their spending and held off on some discretionary purchases, 5G smartphones and pro-camera features encouraged some end users to purchase new smartphones or upgrade their current smartphones in the quarter,” Anshul Gupta, senior research director at Gartner, said in a statement. Related Link: 10 Things Apple Investors May Wish For In 2021 iPhone 12 Boosts Apple: Apple led the pack of smartphone vendors, wresting first place from South Korea’s Samsung. Apple sold about 79,942.7 units in the fourth quarter, up 14.9% year-over-year, giving it a market share of 20.8% compared to 17.1% one year ago. In the third quarter, Apple was the fourth-place vendor, behind Samsung, Huawei and Xiaomi. In comparison, Samsung sold 62,1170 units in the fourth quarter, down 11.8% year-over-year. The company’s market share fell 1.1 points to 16.2%. Xiaomi’s shipments climbed 33.9% and its market share was at 11.3%. Oppo and Huawei had a market share of 8.9% each. Oppo’s shipments rose 12.9%, while Huawei’s slumped 41.1%. The Smartphone Market In 2020: The full-year 2020 numbers show Samsung maintaining leadership despite seeing a 14.6% year-over-year drop in shipments. Its market share was at 18.8%. Apple, by virtue of 3% growth, had a market share of 14.8%, giving it second place in the smartphone market in 2020. Huawei slipped to third place, with its shipments falling 24.1% and market share eroding 2.1 points to 13.5%. Huawei’s woes can be traced back to the ban imposed by the U.S. on chip supply. At last check, Apple shares were down 2.63% to $126.45. (Photo: Shiwa via Unsplash.) See more from BenzingaClick here for options trades from BenzingaChina EV Updates: Nio Tests New Power Swap Station, XPeng’s Travel Statistics, Geely, Baidu Make Progress On JV, Xiaomi Downplays RumorsWhy Apple Will Hit A Trillion Market Cap By The End Of 2021© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.