China’s Apple iPhone sales fall by 24%

A Counterpoint Research research states that during the first six weeks of 2024, sales of Apple’s iPhone fell precipitously in China.

In a report published on Tuesday, the analysis company stated that local smartphone companies including Huawei, Oppo, Vivo, and Xiaomi fiercely competed with Apple, resulting in a 24% decline in iPhone sales over that time.

In the early going of U.S. trade, Apple shares were down over 2%.

Chinese tech giant Huawei put a lot of pressure on Apple, as its consumer division is seeing growth in China with the release of the Mate 60 smartphone.

While not as sharp as Apple’s, a number of other Chinese smartphone manufacturers also saw losses in unit sales over the course of the six-week period.

Counterpoint Research reports that Vivo and Xiaomi had reductions of 15% and 7%, respectively, in smartphone shipments, while Oppo saw a 29% year-over-year fall.

The electronics giant Huawei and its subsidiary Honor, which split off in 2020 due to U.S. sanctions, were the top-performing smartphone brands during the first half of the year.

According to Counterpoint Research, in the first six weeks of 2024, shipments of Huawei smartphones increased by 64% year over year. Meanwhile, shipments of Honor handsets increased by 2%.

China, Apple’s main market, is a challenging place for the company. Pressure is being increased by a number of noteworthy developments, chief among them being fierce rivalry from regional Chinese smartphone manufacturers, which includes a resurgence of Huawei.