HIGHLIGHTS

Apple began subsidizing certain iPhone models by as much as CNY 1,300

Huawei has seen a resurgence in its premium smartphone sales

The overall smartphone market in China shrank 7 percent.

Apple’s iPhone sales in China fell 24 percent year-on-year in the first six weeks of 2024, according to research firm Counterpoint, as the US company faced increased competition from domestic rivals such as Huawei.

The US tech giant’s chief competitor in China in premium smartphones, Huawei, saw unit sales rise by 64 percent in the period, according to the report.  Shares of the iPhone maker closed 2.8 percent lower on Tuesday and have lost about 12 percent of their value so far this year, underperforming their big tech peers in the United States.

 

Counterpoint’s report said Apple’s share of the Chinese smartphone market dropped to 15.7 percent, putting it in fourth place, compared with second place in the year-ago period when it had 19 percent market share.

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