Companies and Brands
Apple Faces Tough Competition in China's Thriving Smartphone Market
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Multiple reports indicate strong sales of the new Apple iPhone 15 in China, a significant market for both Apple and the global smartphone industry. Nevertheless, forecasts suggest that Apple may experience a decline in market share within China this year.
Sales of the Apple iPhone 15 in China were notably facilitated by platforms like JD and Dada, with a notable surge in sales via Dada’s one-hour delivery app, up by an impressive 253% compared to the iPhone 14 from the previous year.
In the Chinese market, Apple faces formidable competition, particularly from local giant Huawei and its Mate 60 Pro. Huawei boasts connection speeds nearly on par with 5G smartphones, the global benchmark for mobile devices.
Can Apple keep such a strong pace in sales compared to its competitors? CNBC expects Apple’s share to drop 4% in China in the fourth quarter. The iPhone 15’s sales will not be able to keep pace compared to the aggregate sales of its competitors.
Apple’s performance in China holds significant implications for the company’s overall financial health. In the most recent quarter, Apple reported revenue of $81.8 billion, with iPhone sales accounting for $39.7 billion, marking a slight decrease from the previous year’s $40.7 billion. While some attribute this dip to Apple’s continued sale of the iPhone 14 during the reporting period, other factors may be at play.
Apple faces strong competition not only from Huawei but also from global rival Samsung, which often leads in global smartphone market share. The introduction of the new Samsung Galaxy Z Fold5 may pose a formidable challenge to the iPhone 15 in certain markets. Additionally, within China, local players like OPPO and vivo further intensify the competitive landscape.
The iPhone’s success is not guaranteed.
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