iPhone Sales in China Dropped Significantly in Q1 2024
iPhone sales in China declined significantly in the first quarter of 2024 as consumers turned to other premium smartphone brands, according to Counterpoint research.
During the first quarter of the year, China's smartphone market experienced modest year-over-year growth of 1.5%, marking the second consecutive quarter of growth. This uptick in sales is largely attributed to strong sales performance from local manufacturers such as Huawei, which achieved a remarkable 69.7% growth compared to the same period last year. This growth was fueled by the launch of Huawei's Mate 60 series, a smartphone lineup that has significantly bolstered the company's dominance in the Chinese premium segment, typically characterized by devices priced over $600.
In contrast, Apple saw its smartphone sales in China plummet by 19.1% year-over-year in the same quarter. Analysts point to Huawei's resurgence as a direct challenge to Apple as the main reason for this, primarily in the premium segment where the two companies compete head-to-head. Counterpoint anticipates that upcoming iPhone models with new color options and AI features could help to rejuvenate Apple's sales in the Chinese market. Looking ahead, the smartphone market in China is projected to see low single-digit growth throughout 2024.
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