Apple stock falls on reports Huawei gaining bigger-than-expected market share in China
) new iPhone 15 is facing challenges in the Chinese market, with sales lagging behind its predecessor - the iPhone 14 - according to Bloomberg News.On the other hand, Jefferies analysts believe the decline is even steeper, indicating a double-digit percentage compared to sales of iPhone 14.
These reports highlight the challenges Apple is encountering in China, where economic struggles and competition from companies like Huawei are impacting iPhone sales. Counterpoint projects Huawei could sell 5 to 6 million units of the Mate 60 Pro alone this year, numbers that could hit double-digits in 2024.“The trend suggests iPhone would lose to Huawei in 2024,” analysts wrote in a note.
“We believe weak demand in China would eventually lead to lower-than-expected global shipments of iPhone.”We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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