Apple iPhone sales in China fell more than 30% during first week of 2024: Analysts
Publishing timestamp: 2024-01-08 11:50:01
Summary
The article states that Apple's iPhone sales in China were down more than 30% year over year for the first week of January. Competitors such as Huawei have remained stronger, gaining the most smartphone market share in China. Jefferies analysts believe that Apple's iPhone volume will fall by double digits this year in China, and they expect Apple to have even higher revenue pressure in China in 2024. The article also mentions that Apple's market share in China has fallen around 4% year over year. Apple's shares have been slipping due to downgrades, warnings about revenue decline, and reports of an antitrust lawsuit. The article notes that iPhone discounts in China are on the rise as part of Apple's effort to defend its share.
Sentiment: NEGATIVE
Tickers: AAPL,
Keywords: china, enterprise, business news, apple inc, iphone, breaking news: business, internet, technology, breaking news: technology, media,