April 8th report: Analysts unanimously point out that Apple's golden age in the Chinese market has become a thing of the past, with the allure of the iPhone noticeably waning, a trend reflected in its sales figures.
According to data from UBS, Apple's iPhone sales in February declined by 4% year-on-year (a global total of 17.4 million units, down from 18.1 million units in February 2023), with the main decline concentrated in the US, India, and the Chinese market.
UBS's report highlights that domestic Chinese smartphone brands such as Huawei, Xiaomi, Vivo, and OPPO continue to seize market share, leading to a 16% year-on-year decline in iPhone sales in China; meanwhile, Huawei's sales nearly doubled.
In addition, iPhone sales in the Indian market also dropped by 13% year-on-year, posing a significant challenge for Apple CEO Tim Cook.
Earlier, data from Counterpoint Research showed a 24% year-on-year decline in iPhone sales in the first six weeks of this year. In contrast, Huawei, Apple's long-standing competitor in China, saw a 64% surge in smartphone sales.
Over the past decade, China has been one of the most important markets for the iPhone, second only to the US, accounting for about 20% of Apple's global sales.
However, Apple's dominant position in the Chinese market is facing severe challenges due to slowing consumer spending and intensified competition from domestic brands like Huawei.
