Sales of Apple’s iPhone in China dropped by 24% in the first six weeks of 2024 compared to the previous year, according to research firm Counterpoint. This decline comes as the US tech giant faces tough competition from local rivals, with Huawei seeing a 64% increase in sales during the same period. Apple and Huawei have not yet commented on the report. The Chinese smartphone market overall saw a 7% decrease in sales, with Huawei’s resurgence attributed to the release of its Mate 60 series of 5G smartphones. Despite these challenges, Apple remains one of the top smartphone brands in China, but its market share has decreased to 15.7%. Huawei has climbed to second place with a market share of 16.5%. Vivo remains the top-selling smartphone maker in China, despite a 15% decrease in sales. Apple has started offering discounts and subsidies on certain iPhone models in an effort to boost sales in China. However, a slowdown in demand could impact Apple’s revenue, which already disappointed investors in its latest earnings report. Apple shares fell by 2.8% in New York trade following the news.
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