Apple iPhone 15 Performing Poorly In Chinese Markets: What Investors Need To Know
- 6 months ago
Apple Inc.’s (NASDAQ:AAPL) latest iPhone 15 is struggling to gain traction in China as homegrown rival Huawei Technologies surges ahead.
What Happened: There is a 4.5% drop in sales of the iPhone 15 in China compared to the iPhone 14 in the first 17 days after its release, reported Bloomberg. Based on data from Counterpoint Research, the report shines a light on the increasing competition from rivals like Huawei.
Analysts at Jefferies, led by Edison Lee, anticipate even lower sales numbers for the iPhone 15 after Huawei outpaced Apple in overall sales, largely driven by the successful launch of the Mate 60 Pro. The analysts at Jefferies said that Apple has seen a sharp “double-digit” decline in iPhone 15 series sales compared to its predecessor.
The poor performance comes at a time when the smartphone market is experiencing its weakest demand in ten years, and Apple faces criticism over overheating models. A sluggish economy, the launch of Huawei’s Mate 60 Pro, and a government directive expanding the iPhone ban for government agencies and state companies are all putting pressure on Apple.
What Happened: There is a 4.5% drop in sales of the iPhone 15 in China compared to the iPhone 14 in the first 17 days after its release, reported Bloomberg. Based on data from Counterpoint Research, the report shines a light on the increasing competition from rivals like Huawei.
Analysts at Jefferies, led by Edison Lee, anticipate even lower sales numbers for the iPhone 15 after Huawei outpaced Apple in overall sales, largely driven by the successful launch of the Mate 60 Pro. The analysts at Jefferies said that Apple has seen a sharp “double-digit” decline in iPhone 15 series sales compared to its predecessor.
The poor performance comes at a time when the smartphone market is experiencing its weakest demand in ten years, and Apple faces criticism over overheating models. A sluggish economy, the launch of Huawei’s Mate 60 Pro, and a government directive expanding the iPhone ban for government agencies and state companies are all putting pressure on Apple.