According to analysts, the increase in the number of cheap Android tablets and the lack of a new iPad from Apple accounted for its failure to be the most dominant in terms of global market share.

Two weeks ago, the tech giant disappointed the market when it reported that only 14.6 million iPads were sold in the second quarter. Apple was able to ship 17 million tablets in 2012.

International Data Corporation said the international tablet shipments rose by almost 60% in the second quarter. The iPad maker's market share slid to 32% from last year's 60%. However, analysts pointed that there is nothing wrong with achieving the second place and approximately a third of the whole market share particularly when third placer Microsoft is way behind with just 4%.

Analysts said investors must take comfort in knowing that the Cupertino, California-based company could serve the higher end of the market where consumers would have the means to spend more in Apple's iOS ecosystem. Finally, the expected release of the new smartphones and tablets from the company would allow it to gain more shares in the emerging markets.