Apple Shares Dip As iPhone Sales In China Decline Sharply In 2024: What's Going On? - Apple (NASDAQ:AAPL)
- Apple shares fell after a report showed a 17% annual decline in iPhone sales in China in 2024, marking the largest sales drop for Apple in this market.
- In the fourth quarter of 2024, Apple's iPhone shipments in China dropped 25%, allowing Chinese brands Vivo and Huawei to overtake Apple in market share.
- To combat declining sales, Apple introduced discounts on iPhone 16 models, with prices cut by up to 500 yuan .
- Despite Apple's efforts, competition from domestic brands like Huawei, which saw significant growth due to new chips, has eroded Apple's market position in China.
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