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03/06/2024 |

Apple’s iPhone Sales Slump In China

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In a recent downturn, AAPL (Apple, Inc.) iPhone sales in China have experienced a significant decline, marking a shift in the competitive landscape of the smartphone market. Let’s explore the details:

Apple’s Decline in China

According to recent reports, Apple has dropped to the fourth position in China’s smartphone sales rankings. This drop comes amidst fierce competition from a resurgent Huawei and aggressive pricing from Vivo and others, as well as a 7% YoY decline in China’s overall smartphone unit sales during the first six weeks of 2024.

The Numbers

2024 vs 2023 Growth:

  • Vivo (-15%)
  • Huawei (+64%)
  • Honor (+2%)
  • Apple (-24%)

2024 vs 2023 Market Share:

  • Vivo (-1%)
  • Huawei (+8%)
  • Honor (+1%)
  • Apple (-3%)

Market Reaction

Shares of the iPhone maker were down 2.2% in premarket trading on Tuesday and have lost about 10% of their value this year, underperforming their peers in the Magnificent 7.