iPhone sales in China fell 24% in the first six weeks of 2024

Tim Hardwick

Apple's iPhone sales in China fell significantly in the first six weeks of this year, causing the company to lose its title as China's top-selling smartphone maker to a local supplier.

‌iPhone‌ Sales fell 24 percent, dropping Apple to fourth place among smartphone makers in the country, according to Counterpoint Research. Vivo took the top spot thanks to its success in the budget segment of the market.

This is despite the fact that both companies are selling fewer phones due to a 7 percent decline in the overall Chinese market, which is suffering from the effects of nationwide deflation.

Meanwhile, Huawei's market share rose to 16.5 percent from 9.4 percent, driven by the popularity of its homegrown Mate 60 series. Apple's market share stood at 15.7 percent, down from 19 percent a year ago, according to Counterpoint. . Analysts say overall growth will likely remain in the red in the first quarter of 2024 due to subdued spending and several new product launches.

Apple ‌iPhone‌ According to Counterpoint, he struggled in the first few weeks of the year for several reasons. “First of all, the company faced stiff competition at the top end from a resurgent Huawei, while it was squeezed in the middle by aggressive pricing from the likes of OPPO, vivo and Xiaomi,” senior analyst Mengmeng said Zhang.

“While the iPhone 15 is a great device, it doesn't offer significant upgrades over the previous version, so consumers are fine holding on to the older generation iPhone for now,” he added.

Apple resellers in China are increasingly reliant on discounts to upgrade to ‌iPhone 15‌ shares in a market that has entered a state of general malaise. The discounts follow Apple's rare price cuts on its website ahead of the Lunar New Year in February.

Apple's sales in China fell 13 percent to $20.8 billion in the quarter ended December, below analysts' forecast of $23.5 billion, and forecasts for rapid improvement in 2024 don't look particularly optimistic.

Apple's sales in China fell 13 percent to $20.8 billion in the quarter ended December, below the $23.5 billion expected by analysts.

> Related reviews: iPhone 15, iPhone 15 Pro Tags: China, CounterpointBuyer's Guide: iPhone 15 (Neutral), iPhone 15 Pro (Neutral) Related Forum: iPhone [118 comments]

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