iPhone's Decline In China Continues In 2024 Despite Apple's Recent Price Cuts: Kuo
Portfolio Pulse from Rounak Jain
Apple Inc.'s iPhone sales in China have continued to decline in 2024 despite offering rare discounts. Analyst Ming-Chi Kuo reported that sales dropped year-on-year through the Chinese Lunar New Year. The decline is attributed to stiff competition from Huawei and a ban on iPhones by Chinese government officials. The Chinese government's advisory on 'security incidents' before the iPhone 15 launch and the expansion of the iPhone ban to more state firms and provinces have exacerbated the situation.
February 16, 2024 | 10:15 am
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Apple Inc.'s iPhone sales in China have declined in 2024 despite price cuts, facing competition from Huawei and impacted by government bans.
The decline in iPhone sales in China, despite price cuts, indicates a significant challenge for Apple in a key market. The competition from Huawei and the impact of government bans on the use of iPhones by officials are likely to have a negative short-term impact on Apple's stock price. The situation is exacerbated by the Chinese government's advisory on 'security incidents' before the iPhone 15 launch, which could further dampen consumer sentiment towards Apple products in China.
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