Latest Report Reveals: iPhone Sales Decline Nearly 20% In China During Q1

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 Apple’s smartphone sales in China fell 19.1% in the first quarter of 2024, according to a report published by Hong Kong-based Counterpoint Research on Tuesday, outlining the challenges facing the iPhone maker as it loses ground to local rivals in the world’s biggest smartphone market.

 


According to the report, iPhones accounted for 15.7% of all smartphone sales in China in Q1 2024, down 19.7% year-on-year.

China’s Huawei, a key challenger to Apple in China’s premium segment, witnessed a major resurgence with its sales jumping 69.7% year-on-year in the first quarter—driven by the successful launch of its 5G-capable Mate 60 series of devices with a breakthrough chip.

While Apple remained slightly ahead of Huawei's 15.5% market share, the iPhone maker dropped from first to third place behind Chinese brands Vivo and former Huawei subsidiary Honor.

Bloomberg reported that Apple’s sharp slump in the first quarter is its worst performance in the Chinese smartphone market since 2020.

Forbes has reached out to Apple for comment.

Counterpoint Senior Research Analyst Ivan Lam said: “Apple’s sales were subdued during the quarter as Huawei’s comeback has directly impacted Apple in the premium segment. Besides, the replacement demand for Apple has been slightly subdued compared to previous years.”


The China sales data comes just a week after market research firm IDC reported that iPhone shipments in Q1 2024 were down 9.6% year-on-year. The decline in shipments meant Apple ceded the position of the world’s biggest phone maker to rival Samsung—which shipped 60.1 million phones in Q1 compared to Apple’s 50.1 million. Unlike iPhones, overall smartphone shipments in the first quarter were up 7.8% driven by booming shipments of Chinese brands. Despite being sixth in its home country, China’s Xiaomi shipped 40.8 million phones globally in Q1—the third highest behind Samsung and Apple—and reported a massive 33.8% growth.

The report comes on the backdrop of what has been a terrible 2024 so far for Apple, which started the year as the world’s most valuable company. In February, Apple reportedly abandoned an ambitious decade-long internal effort to build a self-driving car. Apple’s investors have also expressed concerns that the company may be falling behind rivals like Microsoft, Google and Meta in the artificial intelligence race. According to the Wall Street Journal, Apple has held talks with Google to discuss integrating the search giant’s Gemini AI service into the iPhone—seen as a sign that Apple’s internal AI efforts are still significantly behind its rivals. The company is also facing its most significant legal and regulatory threat in years after the Justice Department and multiple U.S. states filed a landmark lawsuit in March, accusing the company of violating antitrust laws through restrictive policies that hurt competitors and consumers.

10.67%. That is how much Apple’s share price has fallen since the start of this year. The stock is down a further 0.36% in premarket trading early on Tuesday.


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