China’s smartphone unit sales declined by 7% year-over-year (YoY), and Apple iPhone sales fell 24% during the first six weeks of 2024, reports Counterpoint Research.
The research group says iPhone struggled during the first few weeks of the year for several reasons. “Primarily, it faced stiff competition at the high end from a resurgent Huawei while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi,” says Senior Analyst Mengmeng Zhang. “Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now.”
At the same time, it may be noted that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues, magnifying the negative YoY comparison, he adds.
“Consumer confidence will need to rise to stabilize the market, but it is a tough call right now with everything that is happening, especially in the real estate sector,” says Senior Analyst Ivan Lam, adding, “As far as Apple is concerned, there is more wriggle room in the short term. This weekend’s aggressive promotions are just one example.”
Article provided with permission from AppleWorld.Today
