Apple will face an uphill battle versus Chinese smartphone makers in China, as per an investor’s note by Jeffries.
Edison Lee of Jeffries cited industry checks and said that Apple had a 30% decline in December for iPhone sales in China. In line with that, the competitors enjoyed significant growth, with Huawei experiencing the biggest with the Mate 60 lineup launch. Lee said that 35 million Huawei smartphones were shipped last year, and supply constraints were the only limiting factor from reaching greater heights.
The Mate 60 Pro launched in September 2023 and has a 7nm processor made by China for the local market. It’s believed that Apple will see a double-digit decline in iPhone sales this year as signified by several discounts across online merchants. In similar news, there were reports that China is banning the US-made smartphones in state-owned buildings, which may have led further to the sales decline.
