Huawei is at the top of China's smartphone market, Apple has dropped to fifth place
Kyiv • UNN
Huawei regained the top spot in the Chinese smartphone market with a 17% share, while Apple dropped to 5th place with a 25% drop in shipments.
After Apple dominated the smartphone market in China for a long time, Huawei was able to regain its former strength in the last quarter - according to current data, Huawei's sales in the Chinese domestic market have more than doubled, while Apple is losing. Nikkei Asia writes about it, UNN reports .
Details
Huawei returned to the top of the Chinese market, while Apple dropped to fifth place in terms of shipments in Asia's largest economy.
Huawei sold 11.7 million phones and now has a 17 percent market share. In the first quarter of 2023, this figure was still 10%. Huawei has been particularly successful with the Mate 60 Pro, released last summer. This device uses technology that the US tried to prevent from entering China. At the same time, shipments of Chinese brands Oppo and Vivo in the domestic market decreased by 14% and 9%.
Apple fell from first place to 5th place, and its shipments to China fell by 25% to about 10 million. A year earlier, Apple was still the market leader with a 20 percent share.
Apple CEO Tim Cook, who recently visited China to open its flagship store in Shanghai, announced the expansion of Apple's research and development center and emphasized the country's importance to his company. About 17% of Apple's net sales in October-December came from the Greater China region, and the country is the largest source of suppliers in the company's overall supply chain.
Recall
According to Bank of America (BofA), Apple stock is a "top pick". BofA predicts that Apple has 4 catalysts for improved earnings this year, including the launch of the iPhone 16 with artificial intelligence.
