China’s smartphone sales slowdown could hurt Apple’s bottom line, Goldman says [The Verge]
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Source: The Verge
Illustration by Alex Castro / The Verge The smartphone market in China is only going to slump further, Goldman Sachs predicted in an investor note on Sunday. Sales could drop an estimated 15 percent year over year this autumn as companies like Huawei, Oppo, Vivo, and Apple struggle to find interested customers, Goldman said. Like consumers in the US , phone owners in China often keep older models of smartphones for over a year and don’t trade in their phones for the latest model, contributing to the weak sales numbers. Goldman analyst Rod Hall predicts Apple will sell 13 million iPhones in China during the holiday season, or 3 percent less than last year. During the Golden Week in China this October, a week where many employees get time off to travel and recuperate and where retail business often rises, many smartphone shops in Guangzhou, a major southern city, still remained half full or empty. Shop clerks stood by the entrances in pairs, their eyes fli
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