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Apple iPhone sales in China plummet 24% as Huawei smartphone sales surge [Video]

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Global Marketing Strategies

Apple is having a rough start to the year for its iPhone sales in China, where sales were down 24% year-over-year in the first six weeks, according to a new report from research firm Counterpoint.

The analysts said the drop can mostly be attributed to stiff competition in the market, especially from China’s Huaweii, which saw sales of its smartphones surge 64% over the same period compared to a year ago.

“Primarily, [Apple] faced stiff competition at the high end from a resurgent Huawei while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi,” Counterpoint senior analyst Mengmeng Zhang, said in a statement.

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“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now,” Zhang added.

Shares of the iPhone makerwere down 3% Tuesday and have lost about 10% of their value so …

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