From Financial Modeling Prep: 2025-01-03 05:28:38

In November 2024, foreign smartphone shipments to China, including Apple’s iPhone, dropped by 47.4% to 3.04 million units, marking the fourth consecutive month of decline in the world’s largest smartphone market.

Factors contributing to the decline include economic uncertainty, increased competition from domestic brands like Huawei, and price sensitivity, leading Apple to cut prices by up to 500 yuan.

While foreign brands experienced a sharp decline, domestic smartphone shipments also fell by 5.1% in November to 29.61 million units, with Huawei seeing a 42% increase in sales in Q3 2024.

Apple briefly lost its position among China’s top five smartphone vendors in Q2 2024 but regained some footing in Q3, emphasizing the need for strategic pricing and innovation to compete with domestic brands.



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