Data from Counterpoint Research reveals that Apple‘s latest iPhone 15 is experiencing a sluggish start in the Chinese market. The research firm reports a 4.5% decline in iPhone 15 sales compared to the first 17 days of the previous iPhone 14 release. This dip in sales is attributed to diminished consumer spending in China and the increasing competition from rival smartphone manufacturers, including Huawei Technologies. Additionally, Apple is grappling with the weakest smartphone demand in ten years and facing criticism due to reports of overheating issues with the iPhone 15.
With a population of 1.4 billion, China plays a crucial role as a sales market for Apple, significantly contributing to the company’s global revenue. If the initial estimates are accurate, this would mark one of the weakest starts for the iPhone in China since 2018, a time preceding the onset of the COVID-19 pandemic.
However, Counterpoint Research noted that in the first nine days after its release, iPhone 15 sales in the United States have exhibited a strong performance, with a double-digit increase over the figures from 2022, showcasing the phone’s strength in the American market.
The decline in Chinese sales also follows the Beijing government’s ban on the use of iPhones among federal workers and state agencies across the nation.
Some analysts anticipate that in the future, China’s homegrown giant, Huawei, is likely to pose a significant challenge to Apple’s dominance in the smartphone market.
Over the past year, Apple’s stock has seen a 26% increase, trading at $178.85 per share in the United States.
[H/T] Baystreet.ca