New Telegraph

Apple Stocks Fall As iPhone Shipments Drop In China

Apple’s smartphone (iPhone) shipments to China have fallen by 2.1% in the last quarter of 2023.

This is according to statistics from research firm, IDC, which attributed the drop to stronger competition from regional rivals headed by Huawei.

Similar to United States (US) limitations on Chinese apps for security concerns, the decline draws attention to the difficulties Apple has in its third-largest market, where some Chinese businesses and governments impose limits on the usage of Apple devices.

Even if U.S. sanctions caused Huawei to suffer in the past, the business recovered in 2023, increasing shipments by 36.2% and rising to the position of fourth in China’s smartphone market.

However, for the full year, Apple surpassed Vivo to become the top smartphone seller in China, capturing a 17.3% market share, although analysts anticipate increased pressure on Apple’s sales in the coming year.

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IDC revealed that Apple’s dwindling high-end market share in China can be attributed to restricted product improvements and competition from competing devices, which in turn lowers the allure of iPhones.

Analysts at Jefferies predicted earlier this month that Apple’s shipping volumes would continue to decrease by double digits through 2024, while Huawei is expected to increase its market share.

According to the prediction, Huawei will ship a large number of smartphones worldwide in 2024 roughly 64 million an increase from the less than 35 million devices expected in 2023.

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