'Apple Shot Itself In The Foot:' Telegram Founder Says Cupertino iPhone Market Share In China Will 'Keep Shrinking'
Portfolio Pulse from Rounak Jain
Pavel Durov, the founder of Telegram Messenger, criticized Apple Inc.'s App Store policies, predicting a decline in iPhone market share in China. He highlighted the Chinese government's encouragement for citizens to switch to Android smartphones, like those made by Xiaomi and Huawei, due to Apple's restrictive app installation policies. Despite Apple's recent concessions in the EU, its strict App Store rules, including the removal of apps like Telegram and Meta Platforms Inc.'s WhatsApp and Threads under Chinese government pressure, could further diminish its market share in China.
April 22, 2024 | 12:08 pm
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Apple Inc. faces potential market share decline in China due to strict App Store policies and government pressure, despite a slight premarket stock increase.
Apple's restrictive App Store policies and the removal of popular apps under Chinese government pressure could alienate Chinese consumers, leading to a preference for Android smartphones. This situation, combined with the Chinese government's push for local smartphone brands, could significantly impact Apple's market share in China. Although Apple's stock showed a slight increase in premarket trading, the potential long-term market share decline in a critical market like China could negatively affect its stock value.
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