Ban: Q1 iPhone Sales Slide 19% in China
Following a ban placed on government official by Beijing, Apple saw a 19% decrease in iPhone sales in China during the first quarter of 2024, marking the lowest performance in the January-March period since 2020.
This decline happened despite the overall growth in the phone market, resulting in a loss of market share to competitors, including Huawei Technologies. Apple’s market share in China fell to 15.7% from 19.7% a year ago, ranking it third overall behind Vivo and Honor.
The decline in sales was due to a ban on government employees using Apple devices and Huawei Technologies’ return to the high-end segment.
Huawei’s sales increased by 69.7%, moving it to fourth in market share at 15.5%. The rise of Huawei’s new sales in the premium segment and subdued replacement demand for Apple devices also contributed to the decrease in Apple’s sales.
Despite these challenges, there are indications of potential improvement in the second quarter. Counterpoint Research suggests a possible shift in momentum for iPhones, with new color options and aggressive sales initiatives being potential factors.
The company’s future steps in China are eagerly awaited, particularly with the upcoming earnings report on May 2. # Ban: Q1 iPhone Sales Slide 19% in China Treasury Bills Yield Falls as Liquidity Pressure Ease
