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Apple sinks to 3rd place in China as iPhone sales slide [Business Insider]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
Chinese-based rivals Vivo and Honor outpaced Apple's sales in the first quarter of the year, per Counterpoint data. Apple finished the quarter with a 15.7% share of the market, down from 19.7% in the same period last year and barely ahead of Huawei's 15.5%, per the research outfit. In stark contrast with Apple's slide, Huawei sales soared by almost 70% compared with the first three months of 2023. Counterpoint research analyst Ivan Lam said in a note that Huawei's surge had directly affected iPhone sales in China. Apple had also been hit by fewer consumers replacing their smartphones, he added. Huawei's rise has given Apple CEO Tim Cook a new headache, given he's already dealing with disappointing iPhone 15 sales and government bans in China. Cook went to China in March to visit Apple's newest store in Shanghai and attend the high-profile China Development Forum in Beijing. Huawei recently released a new series of smartphones called the Pura 70 that has an advanced camera sys
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