Apple iPhone X becomes top-selling smartphone beating Samsung and Xiaomi

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The moves come amid concerns about Apple's most important product: the iPhone.

In a new report by Strategy Analytics, Apple sold 16 million units of the iPhone X in the quarter, making it the best selling smartphone.

This trend is likely to continue for Apple as the firm believes that the Cupertino-based tech giant is likely to maintain its winning streak in the second quarter of the year as well.

The iPhone X was believed to impact Apple's sales revenue owing to its sheer Dollars 1,000 price tag. But that is not the only star performer in its arsenal. The iPhone 8 shipped 12.5 million units while the iPhone 8 Plus shipped 5.6 million units.

In February, Apple said it planned to draw down its excess cash, though CEO Tim Cook had downplayed the possibility of a special dividend.

Apple iPhone quarterly sales have beat Wall Street estimates with the company reporting sales of 52.2 million iPhones against a Wall Street target of 52.3 million.

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The phone managed to beat analysts' fears regarding its market performance due to its high price. In fifth place is the Xiaomi Redmi 5A at 5.4 million units, followed by the Samsung Galaxy S9 Plus at 5.3 million units.

The iPhone maker is raising its quarterly dividend by 16 percent to 73 cents per share, matching the largest increase since Apple restored the payment under shareholder pressure six years ago. Earlier this month, Ming-Chi Kuo, analyst with KGI Securities, claimed Apple was planning to kill its iPhone X soon. During the same period past year, the company posted $2.10 EPS.

Concorde Asset Management LLC trimmed its position in Apple (NASDAQ:AAPL) by 44.6% in the fourth quarter, according to its most recent filing with the SEC.

Samsung's new flagships started shipping only during the end of the first quarter, and the sales figures are already quite impressive.

"The S9 Plus delivers an attractive, bezel-less, curved-screen design, a rich portfolio of software apps, and best-in-class retail distribution across dozens of countries".

It's important to note that in Q1 2017, according to Strategy Analytics, Apple's two top-5 entries on this same list accounted for 11% of the market. "We expect the S9 Plus to become the best-selling Android smartphone globally in the second quarter of 2018". The company has a market cap of $895,918.56, a price-to-earnings ratio of 19.21, a PEG ratio of 1.35 and a beta of 1.26. Those were the iPhone 7 and the iPhone 7 Plus, and the latter of these racked up 17.4-million units shipped. At number five, comes Xiaomi with the Redmi 5A that was well received in India and China.