Apple iPhones sales fall 24% in China amid competition and headwinds
iPhone Sales Drop in China, Poses Challenges for Apple #
In the first six weeks of 2024, iPhone sales in China declined by 24%, contributing to significant issues for Apple and other Western tech companies in this key market. The overall mobile market in China fell by 7%, with Apple, Oppo, and Vivo experiencing declines. The slowdown in China’s economy, coupled with trade tensions and increased nationalism, has affected Apple’s performance. Customers are now turning to national brands, particularly Huawei, due to stiff competition, aggressive pricing, and the absence of significant upgrades in the latest iPhone model. Apple’s shares dropped 2.8% on Tuesday amid concerns about weakening sales, especially in China. Despite the challenges, Apple considers China a crucial market and continues to offer discounts to maintain market share.