iPhone sales are up, but they're taking a big hit in China

Apple #039 Series; iPhone 15 Pro

Apple's iPhone sales are rising worldwide but in China are down 13% from last year, and CEO Tim Cook says that reflects overall economic troubles rather than the iPhone's loss of popularity.

During Apple's Q1 2024 earnings call, Apple reported total iPhone sales in China of $20.82 billion. This is a 13% drop compared to the same period in 2023.

“The dollar is very strong against the yuan,” Tim Cook told CNBC. “So minus 13 is in the mid single digits.”

“That's what we did on the phone last quarter,” he continued. “The good news is that we are among the top four of the six best-selling smartphones in Chinese cities.”

Apple sold $69.7 billion worth of iPhones during the 2023 holiday quarter. This compares to $65.8 billion in the 2022 quarter.

Apple previously saw iPhone sales fall 4% year-on-year around China's annual Singles' Day in November. Despite this, other analysts say the long decline in smartphone sales in China has been reversed, and Apple has recently been the country's top seller.

Leave a Reply

Your email address will not be published. Required fields are marked *