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Apple iPhone sales in China fall by 19% in Q1 as demand for Huawei devices rises, data shows
Counterpoint Research data indicates that Apple experienced a 19.1% decline in iPhone sales in China during the first three months of the year.
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Apple sales have dropped by 19.9 per cent in the first quarter in China
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Reports state that Apple’s sales have dropped due to Huawei’s comeback in the premium segment
According to a recent report from market research firm Counterpoint Research, Apple suffered a dramatic decline in iPhone sales in China during the first quarter of this year due to fierce competition from local brand Huawei. According to Counterpoint's research, Chinese telecommunications and consumer electronics giant Huawei had a rebound in its smartphone business during the first three months of this year, whereas Apple reported a 19.1% decline in iPhone sales.
Apple has been experiencing subdued sales in the quarter
Sales of smartphones for the Shenzhen, China-based company increased by a staggering 69.7% in the first quarter. This was caused in part by the release of Huawei's Mate 60 smartphone, which has a top-tier chip that enables 5G mobile communication in the future.
The U.S. imposed sanctions on Huawei beginning in 2019 to prevent it from obtaining such technology, almost completely ruining Huawei's smartphone business. Huawei is making a resurgence right now. In a research report published on Tuesday, Counterpoint stated that the business is the fourth-largest smartphone manufacturer in China. This puts further pressure on Apple, the third-largest manufacturer. Tuesday's premarket trade in the US saw a little decrease in Apple shares.
Senior research analyst Lam suggested that the iPhone manufacturer might still experience a rebound in China, citing the prospect of aggressive discounts, new color options for its flagship devices, and artificial intelligence features that are anticipated to be unveiled at the company's upcoming Worldwide Developers Conference in June.
In the first three months of the year, smartphone sales in China increased 1.5% year over year, which is the second quarter of positive development for the sector. Counterpoint stated that it expects China's smartphone industry to grow at a low single-digit rate annually by 2024.
The company stated that it anticipates increased demand for new mobile phones due to AI technologies incorporated into the devices made by Chinese smartphone manufacturers. The Snapdragon 8 Gen 3 CPU from Qualcomm, which is intended for AI applications, has been incorporated by Chinese smartphone manufacturers Oppo and Xiaomi into their most recent flagship models.
Honor, a Huawei subsidiary, unveiled the Magic 6 Pro, their newest flagship smartphone, which has an AI-powered eye-tracking function that lets users operate a car with their eyes.
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