Apple lost 5% of the Chinese smartphone market in a month, and this may be just the beginning of the problems

Apple did well in China during the first two months of last quarter, but September negated all the growth. Analysts believe this could be the beginning of trouble for the Cupertino manufacturer.

Here's What We Know

Apple was able to grow its smartphone sales by 5.7% in July and August. However, in September the share of the Californian company decreased by 4-5%. It is reported by Bloomberg, citing analyst Edison Lee from Jefferies Bank. In this case, the expert can not name the reasons for the decline in popularity of the iPhone in China.

Moreover, the sharp drop in smartphone sales in China may be a harbinger of more problems for Apple. Now it produces about 90% of iPhones at factories in China, and local authorities have begun to limit the work of enterprises because of the new outbreak of coronavirus. This leads to a disruption of the component supply chain. We saw a similar effect in 2020. And many firms have still not been able to recover from the consequences.

Source: Bloomberg