Apple’s Smartphone Sales Slump in China
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Apple faced two downgrades ahead of earnings, with analysts citing weak iPhone demand. China continues to be a headwind for sales.
Worldwide smartphone sales grew in 2024 following two consecutive years of decline according to reports from Counterpoint, Canalys, and IDC. The bulk of the growth came from Chinese manufacturers including Xiaomi and Vivo, though Apple and Samsung are still holding strong as the undisputed market leaders.
The Counterpoint Research report reveals that Apple used to have about 19 per cent market share last year. But this year, the numbers have been abysmally low for Apple.
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Apple got hit with downgrades from Jefferies and Loop Capital on fears of slowing iPhone sales and a lack of demand around Apple Intelligence.
No manufacturer besides Samsung and Apple has managed to secure more than 3% market share in South Korea over the past six years, following LG Electronics’ exit from the market in 2021. According to Counterpoint Research, Samsung commanded 80% of the market in the third quarter of last year, while Apple held 19%.
Reports on global smartphone sales for 2024 differ on which brand came out on top, but the real winner was Xiaomi.
South Korean users are loyal to Samsung and Apple, but Xiaomi has recently entered the country's market. Industry insiders say that Samsung is closely
Apple’s smartphone sales in China fell sharply in the final quarter of 2024, hurt by the popularity of local rivals like Huawei and others expanding into the premium market, according to a closely followed research firm.
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