In the last quarter of 2023, iPhone sales in China fell 11% compared with the same period a year earlier, according to market-research firm Counterpoint. Ethan Qi, a Counterpoint analyst, linked the downturn to waning demand for smartphones in China and intensified competition from local rivals. In particular, Huawei is swiftly gaining ground despite grappling with U.S. sanctions.
In recent years, the premium segment has emerged as the main growth driver in an otherwise-sluggish global smartphone market. The segment accounts for just under a quarter of smartphone sales globally but 60% of revenue, according to Counterpoint…Read more