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.
25 Articles
25 Articles
Apple was among the losers on the New York stock exchanges on Thursday. Market researcher Canalys reported that the tech group would no longer be the largest smartphone seller in China by 2024. Apple has been overtaken in that important market by its Chinese competitors Vivo and Huawei. On Wall Street, Apple's shares fell 4 percent.
Shipments of iPhones in China fell 17% to 42.9 million in 2024; the drop caused the company to lose the first position, according to Canalys
Apple Shares Dip As iPhone Sales In China Decline Sharply In 2024: What's Going On? - Apple (NASDAQ:AAPL)
Apple Inc. (NASDAQ:AAPL) shares traded lower Thursday following a report that its iPhone sales in China dropped significantly in 2024. What To Know: Data from research firm Canalys revealed a 17% annual decline in Apple’s shipments in the country, its largest-ever sales drop in the market. The contraction included a 25% plunge in the fourth quarter alone according to Reuters Apple was overtaken by Chinese smartphone makers Vivo and Huawei, which…
iPhone loses sales crown in China to Vivo and Huawei
Apple was dethroned as China’s biggest smartphone seller in 2024, with local rivals Vivo and Huawei overtaking the iPhone maker after its annual shipments in the country declined 17%, data from research firm Canalys showed on Thursday. It was Apple’s largest-ever annual sales decline in China and involved contraction in all four quarters, including a 25% drop in the final quarter, according to the data. iPhone discounts in China- January 2025 Fo…
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