The iPhone has a China problem
Apple iPhone sales tanked in China by nearly a quarter in the first six weeks of 2024, according to a new report from Counterpoint Research — thanks in large part to competition from Huawei's Mate 60 smartphone, which launched last year. Huawei smartphone unit shipments logged a 64% increase over that same six weeks, while other homegrown brands such as Vivo and Xiaomi saw sales drop, though not as much as Apple. Overall, China's mobile market shrank by 7% in the first month-and-a-half of 2024.
- In January, Apple offered rare iPhone discounts in the country in a bid to boost sales.
- China is targeting economic growth of "around 5%" for 2024, the government announced — about in line with last year's 5.2% expansion.
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Intriguing where the smart device market will go. Another aspect might be the SLM which must push the sales. The phone market is like buying vegetables, we always look for the fresh ones. The shinier the better. Now if the vegetable is not available in the first place, then we go for the alternative. A new fruit in the grocery section might get some initial traction, people will try it and will get back to the routine vegetables. Few will stick. Its the repetition of showing the new ones to the consumers, that you get them hooked. PEST analysis at play.