Apple’s iPhone sales are continuously decreasing in China. According to Jefferies, iPhone sales in China will decline even more in the year 2024. This decline could be in double digits in terms of percentage.
The analyst panel, led by Jefferies’ Edward Lee, said the iPhone’s latest phone launch had a weak start in China last year. Usually this did not happen with the company’s models. Recently in December this decline increased to 30% (YoY).
Meanwhile, discounts on Apple smartphones have been increased on all online shopping platforms last week. Meaning, there was a decline in the average selling price without any growth in volume.
Rapid growth of Huawei Technologies
Whereas the market of other companies in China has increased in December. Huawei Technologies had the highest growth, the main reason for this was the launch of the New Mate 60 series.
Huawei’s Mate 60 Pro achieved good sales in China due to nationalistic sentiments, ahead of the iPhone launch in September 2023. A processor developed in China has been used in this phone. In this way, the loss suffered by Huawei in 2020 due to iPhone was compensated to some extent.
Apple’s market share in China increased after Huawei’s relationship with the world’s largest chipmaker ‘Taiwan Semiconductor Manufacturing’ ended in 2020 due to US sanctions.
Jefferies estimates that Huawei will ship about 35 million smartphones in 2023. This number could have been even bigger, but it got hampered due to some supply-related constraints.
