From Nasdaq:

Shipments of Apple’s smartphones in China dropped by 2.1% in the final quarter of 2023 due to intensified competition from local rivals, as reported by research firm IDC on Thursday. Despite this, Apple overtook Vivo to become the top seller in China for the full year 2023 with a 17.3% market share, but is expected to face further sales pressures in 2024.

Huawei, recovering from U.S. sanctions, is projected to ship around 64 million smartphones worldwide in 2024, a significant rise from the projected 35 million units for 2023. This is expected to pose a challenge to Apple, which has been attracting demand through discounts and promotions in China. Apple’s shipment volumes are estimated to continue declining by double digits in 2024, while Huawei is seen as boosting its market share.

Analysts predict that Apple’s struggle in the Chinese market will continue in 2024, as data from IDC showed a 2.1% drop in smartphone shipments in the final quarter of 2023 due to fierce competition from local rivals. Despite becoming the top seller in China for the full year 2023, Apple is expected to face increased sales pressures in the following year as Huawei recovers from U.S. sanctions and strengthens its market share globally.

Competition in the world’s biggest smartphone market grew by just 1.2% in the final quarter of 2023, with Huawei recovering from U.S. sanctions and intensifying competition with new launches. Apple overtook Vivo as the top smartphone seller in China for the full year 2023 with a 17.3% market share, though analysts predict its sales will come under pressure again in 2024. Discounts and promotions through third-party distribution channels have helped Apple maintain substantial demand from consumers in China.

Last month, Apple offered rare discounts on its iPhones in China, cutting retail prices by up to 500 yuan ($70) in response to growing competitive pressure. Research firm IDC reported a 2.1% drop in smartphone shipments for Apple in the final quarter of 2023 due to intensified competition from local rivals like Huawei in the Chinese market. Huawei is projected to ship around 64 million smartphones worldwide in 2024, posing a challenge to Apple.



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