Sales of Apple’s iPhone plunged in the first quarter of 2024, as Chinese consumers showed a major preference for other premium smartphone brands, according to Counterpoint Research.
China’s smartphone market experienced modest year-over-year growth of 1.5% during the first quarter, marking the second consecutive quarter of growth. The report says the modest increase in smartphone sales is largely due to strong sales performance from Chinese manufacturers such as Huawei, which boasted an incredible 69.7% growth in sales when compared to the same period last year. Huawei’s Mate 60 series fueled the increase. The Mate 60 series has helped lift Huawei to dominate the Chinese premium smartphone segment, which is generally considered to be devices priced over $600.
On the other end of the scale, Apple’s smartphone sales in China plunged by 19.1% year-over-year in the same quarter. Analysts say Huawei’s resurgence as a premium smartphone leader is the main reason for this.
Counterpoint anticipates that Apple’s upcoming iPhone 16 models with new color options and Artificial Intelligence features could help boost Apple’s sales in the Chinese market. The smartphone market in China is expected to see only low single-digit growth during 2024.
