According to the latest report of the Hong Kong research institute "Comparative Method" technology market research company, Apple's iPhone sales in China this year have had a bad start, with sales falling by 24% year-on-year in the first six weeks.
Analysts said the main reason for the decline in iPhone sales was fierce competition, especially from Huawei, which saw a 64 percent surge in smartphone sales over the same period.
"Mainly, [Apple] faces stiff competition from the re-emerging Huawei in the high-end market, while in the mid-range it is being squeezed by aggressive pricing from companies like Oppo, Vivo and Xiaomi," Zhang Mengmeng, a senior analyst at technology market research, said in a statement. ”
"Although the iPhone 15 is a great device, it doesn't have a significant upgrade over the previous generation, so consumers feel that it's not bad to continue using the older generation of iPhones for now," Zhang added. ”
Apple's stock price was 3% on Tuesday and has been about 10% so far this year, underperforming large U.S. technology companies.
Apple's share of China's smartphone market has fallen to 157%, ranking fourth, compared to its market share of 19% in the same period last year, ranking second.
Apple's sales and profits in the last quarter beat Wall Street expectations, driven by global iPhone growth, but it is worth noting that its sales in China lagged.
Apple CEO Tim Cook said in an interview with Reuters last month: "We are pleased with the 6% (revenue growth) of the iPhone. In emerging markets outside of China, the iPhone saw particularly strong double-digit growth. The iPhone is doing well in these markets. ”
Cook added: "This hasn't changed that in China as the world's most competitive smartphone market. (Compiled by Wu Mei).