iPhone shipments to China fall by 33%

Apple lost about 33% of its shipments in China in February compared to a year earlier.

Here's What We Know

Last month, foreign brands shipped only about 2.4 million smartphones, which was affected by the New Year. Apple accounted for the vast majority of these shipments, as it is the only foreign player with a significant market share.

This is the second month in a row that shipments have declined. According to the Chinese Academy of Information and Communication Technology, the company shipped approximately 5.5 million units in January, or about 39% fewer phones than the previous year.

On Tuesday morning, shares in New York fell less than 1%. This year, they are down about 12%.

Source: Bloomberg