Apple's Falling iPhone Sales Have Another Challenge To Deal With As Huawei Launches New Phones
Portfolio Pulse from Rounak Jain
Huawei Technologies Co. has launched its new Pura 70 smartphone series, directly challenging Apple Inc. (AAPL) in the high-end Chinese market. This move comes as Apple faces declining iPhone sales in China, with the Pura 70 series expected to intensify competition. Analysts have expressed concerns about Apple's future revenue in China, with some remaining optimistic about a turnaround. The launch of the Pura 70, featuring innovative camera technology, could further impact Apple's market position in China.
April 18, 2024 | 8:23 am
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Apple Inc. faces increased competition in China with Huawei's launch of the Pura 70 series, amid already declining iPhone sales in the region. This development could further challenge Apple's market share and revenue prospects in China.
Huawei's introduction of the Pura 70 series with advanced features at competitive prices directly targets the high-end market segment that Apple's iPhone occupies in China. Given the already reported 33% year-on-year decline in iPhone sales in China as of February, this move by Huawei could exacerbate Apple's challenges in maintaining its market share and revenue in the region. The timing of the launch, ahead of Apple's expected iPhone 16 release, and the innovative features of the Pura 70 series, such as the retractable camera, are likely to attract consumers and impact Apple's sales negatively in the short term.
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