Apple’s iPhone According to an analyst note originally published by Jefferies, the company has lost its top spot among Chinese smartphones CNBC. A lackluster release iPhone 15 allowed Huawei to displace the iPhone as the number one market leader.
Apple expected that the most expensive iPhone 15 would be a Top sellerHowever, analysts at Jefferies expect a double-digit decline in sales for the phone this year. iPhone volume growth has been negative since the launch of the latest model. Initial reports previously showed that Apple Reduce production of iPhone 15 by 8 million units by the official announcement date.
Apple did not immediately respond to a request for comment.
Meanwhile, Huawei’s phone sales in China posted high double-digit growth in 2023, outperforming Apple slow it down in smartphone sales for the region.
“The trend suggests that the iPhone would lose to Huawei in 2024,” he wrote Jefferies analysts. “We believe weak demand in China would ultimately result in lower-than-expected global iPhone shipments.”
Huawei has launched its latest high-end smartphone, the Mate 60 Pro, with a processor made in China. While the 7-nanometer processor is not as advanced as Apple’s 3-nanometer processor, Huawei’s technology development represents a significant step Financial support in the chip war between the USA and China.
Counterpoint Research also noted a decline in iPhone sales in China, reflecting an economy struggling to recover from a COVID slump. However, Counterpoint analysts estimate that Huawei could sell 5 to 6 million units of the Mate 60 Pro this year alone, and that number could rise to over 10 million units in 2024.
US-China relations are the foundation of the smartphone war. Just last month, Chinese officials forbidden A week before Apple introduced the iPhone 15, it blocked government employees from using iPhones at work. China has promised to reduce its reliance on foreign technology, and this could hurt Apple’s market capitalization in Asia. The ban on iPhones reflects similar policies in the United States, such as the Federal Communications Commission’s classification of Huawei national security risk.