iPhone sales in China fall by more than 20% due to Huawei

Apple lost 24% of iPhone sales in the first six weeks of 2024 due to increased competition from domestic rivals, including Huawei.

Here's What We Know

According to a report by research firm Counterpoint, the US tech giant's main competitor in the high-end smartphone segment grew by 64% over the same period.

There are already concerns about certain problems at Apple. The company's shares closed down 2.8% on Tuesday and have lost about 12% of their value this year.

Counterpoint's research also shows that Apple's share of the Chinese smartphone market has fallen to 15.7%, which means the company now ranks fourth. For comparison, last year at the same time it was in second place.

At the same time, Huawei moved up to second place, as its market share increased to 15.5% from 9.4%. By the way, the overall smartphone market in China shrank by 7%.

Source: Reuters