Apple Inc. (NASDAQ: AAPL) iPhone sales are dropping rapidly and sharply in China. The nation is the world’s largest smartphone market by far, with about a billion smartphone users. The U.S. market has closer to 310 million.
24/7 Wall St. Key Points:
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A recent analysis reveals that iPhone sales have declined sharply in China, the world’s largest smartphone market.
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Apple Inc.’s (NASDAQ: AAPL) market share fell to third place there.
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The figures for China sales come from research firm Counterpoint. Its new Market Pulse Service report covers sales in China during the fourth quarter of last year. Its survey shows that overall China sales fell 3.2% year over year.
Huawei took the top position, followed by Xiaomi. Huawei had a market share of 18.1%, while Xiaomi’s was 17.2% and Apple’s was 17.1%.
Apple finished in third place based on market share, which dropped 18.2% in the quarter.
Apple’s China sales have struggled recently. In its most recently reported quarter, “Greater China” sales were $15 billion, which was flat from the previous year. Total Apple sales for the quarter were $95 billion, up 6% compared to the previous year’s period.
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