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Samsung is losing smartphone share to cheaper Chinese rivals and high-end Apple phones, reports Reuters. Samsung last week gave second-quarter earnings guidance that was far weaker than expectations and is on track for its worst quarterly profit in two years.

Korean research firm Counterpoint surveyed 35 markets accounting for nearly 90 percent of global smartphone sales and found that the eight-month-old iPhone 5s sold 7 million units in May, compared with about 5 million for Samsung’s flagship Galaxy S5, which was in just its second full month of sales after a late March release.

Data from research firm Canalys showed that Samsung’s market share in the first quarter of 2014 fell to 18 percent from 20 percent a year earlier, while the likes of China’s Xiaomi and Lenovo made gains. Sony’s Xperia Z1 narrowly missed the top 10 and Motorola’s Moto G, Huawei’s Honor 3C, and LG’s G2 all made the top 20.

ComScore reports that for the three months ending February 2014, smartphone penetration in U.S. now stands at 68.2% with a total of 163.2 million owners. Apple currently rules the OEM market with a 41.3% share.

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