Apple Sales Volume Underperforms Huawei & Xiaomi On China's Singles Day: Report
Portfolio Pulse from Anusuya Lahiri
Apple Inc (AAPL) saw a 4% decline in smartphone sales during China's Singles Day, while Huawei and Xiaomi (XIACF, XIACY) reported sales growth of 66% and 28%, respectively. Despite the overall Chinese smartphone market growing by 5%, Apple faces challenges with a sales ban expansion and higher iPhone 15 prices compared to rivals. JD.com (JD) reported over 10 billion yuan in Apple transactions, and Xiaomi's gross merchandise value exceeded 22.4 billion yuan. The market is expected to rebound, with discounts on iPhones and new releases from Huawei and Xiaomi intensifying competition. Supply chain issues have affected Apple's performance, but normalization is expected soon.
November 24, 2023 | 11:11 am
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POSITIVE IMPACT
JD.com reported strong Apple product sales, exceeding 10 billion yuan during the Singles Day festival, indicating robust demand on its platform.
The reported high transaction volume for Apple products on JD.com's platform suggests positive performance for JD in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Xiaomi Corp's sales grew by 28% during China's Singles Day, indicating strong performance and competitive positioning against Apple.
Xiaomi's significant sales growth suggests a positive short-term outlook for its stock, as it gains market share in the competitive smartphone sector.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Xiaomi Corp's sales grew by 28% during China's Singles Day, indicating strong performance and competitive positioning against Apple.
Xiaomi's significant sales growth suggests a positive short-term outlook for its stock, as it gains market share in the competitive smartphone sector.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Apple experienced a 4% sales decline during China's Singles Day, with higher iPhone 15 prices and a sales ban expansion in China posing challenges.
The sales decline and regulatory challenges in a key market like China could negatively impact investor sentiment and Apple's short-term stock performance.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90