Apple's China sales dip by 30%, expected to continue in 2024
Jefferies analysts, as cited by Bloomberg, predict a continued decline in Apple sales in China throughout 2024. The lackluster performance of the iPhone 15 series, marked by a 30% year-on-year drop, contributed to this downward trend.
In stark contrast, Huawei has experienced remarkable growth, largely attributed to the success of the Mate 60 lineup within the domestic market.
The launch of the iPhone 15 closely followed the unexpected introduction of the Mate 60 Pro by Huawei. Analysts suggest that a sense of patriotism influenced consumers, steering them towards Huawei's flagship, equipped with a new Made-in-China processor that is yet to be officially unveiled.
Despite Jefferies estimating 35 million shipments for Huawei, supply constraints may have hampered the potential for even greater numbers.
Looking ahead, Apple's double-digit decline in sales volumes is anticipated to persist into the coming year. Despite the emergence of multiple iPhone deals on various online shopping platforms over the past week, the reduced prices have yet to translate into improved sales volume for the tech giant.