Apple's iPhone sales in China have significantly declined in the first quarter of 2024, with a reported 19% drop in the March quarter according to Counterpoint data. This marks the worst decline in four years, with some reports indicating a drop as high as 20%. Apple is now the third largest smartphone vendor in China, holding a market share of 15.7%, down from 19.7% in the first quarter of 2023. The sales reduction is attributed to several factors including a government ban on foreign brands in workplaces and a shift in consumer preference towards domestic brands like Huawei, which saw a 70% increase in sales.
#Apple is feeling pressure in the smartphone market this year, as the dominance of the iPhone in China has fallen despite a market recovery. https://t.co/9639Xy2J0z
those $AAPL vs Huawei numbers for Q1 china sales reallly bad. Surprised not down more, I guess this has been the primary driving force for underperformance?
Analysts see hopeful signs as iPhone sales slide in China https://t.co/xUdicUtTY0 by David Snow
$AAPL CHINA SMARTPHONE SALES MARKET SHARE, Q1 2023 VS Q1 2024 https://t.co/q3vir89Vi8 https://t.co/vEVJ1GdtcT
Apple is now the third largest smartphone vendor in China with a market share of 15.7%, a notable drop compared to its Q1 2023 share of 19.7%. The shrink in iPhone shipments is the biggest among all top vendors. Read more: https://t.co/n7KqMn6Rci
Appleβs $AAPL iPhone sales plummeted 19% in March quarter, per Counterpoint data https://t.co/lSSkYF59pP https://t.co/VJd21gP1Po
JUST IN: $AAPL Q1 PHONE SALES IN #CHINA FALL 19.1%, HUAWEI'S UP 70% - @PiQSuite β οΈ Exactly π― as expected 8 months ago, but pretty much everyone choose #FOMO instead ππ»π€·π»ββοΈ https://t.co/RCaD7CQ982
Another day another "dump on Apple I-phone" day. This time it is a China survey that shows sales dropped 20% I reiterate we could see $160....
"#iPhone sluggishness has hurt sales in #China, but there are also other concerns, incl a ban on foreign brands in govt workplaces & a broader preference shift to homegrown technology...In Q1 the coβs π¨π³ sales β¬οΈ13%βworst decline in 4yrs" https://t.co/BZzYUjcb62