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Apple is reportedly facing lukewarm demand for its latest-generation iPhones, iPhone 15 series, in China. According to a report in Bloomberg, “Apple Inc.’s new iPhone 15 is selling far worse in China than its predecessor…, reflecting stubbornly weak consumption as well as the rise of rivals like Huawei Technologies Co.” The report quotes separate analyses including that of market tracker Counterpoint Research and Jefferies.
Sales of Apple’s flagship device are down 4.5% compared with the iPhone 14 over their first 17 days after release, said the report quoting Counterpoint Research estimates in previously unreported figures provided to Bloomberg News. It further quotes Jefferies analysts led by Edison Lee saying that sales of iPhone 15 were down by an even sharper double-digit percentage from its predecessor after Huawei outsold Apple overall, powered by the surprising debut of the Mate 60 Pro. Huawei has now taken the top spot in the market from Apple, Jefferies wrote in a note on Monday. “The trend suggests the iPhone would lose to Huawei in 2024,” Lee and colleagues wrote. “We believe weak demand in China would eventually lead to lower-than-expected global shipments of iPhone.”
The twin reports may mean a potential blow to Apple at a time it’s grappling with the weakest smartphone demand in a decade and a backlash from overheating models. Report claims that if the initial estimates are accurate, they represent one of the iPhone’s worst debuts in China since around 2018, when local names like Oppo and Vivo began to captivate Asian consumers.
According to Counterpoint, the iPhone’s slump in China is mainly on an economy struggling to rebound from its Covid trough. Overall, analysts are divided about the longer-term impact of US-China tensions on iPhone sales in China, the world’s largest smartphone arena. Many analysts argue that Huawei’s rising prominence could erode Apple’s dominance of the higher end of the market. Counterpoint estimates the Chinese company could sell 5 to 6 million units of the Mate 60 Pro alone this year. With some analysts estimating that this could rise to double-digits in 2024.
Bumper sales in the US
The report at the same time stressed that in the US, the iPhone 15 series is set to post a double-digit rise over 2022 in the first nine days of sales. “The US is hot right now with back-to-back stellar weekends for the new iPhone,” said Counterpoint research director Jeff Fieldhack. “It’s a positive sign from the biggest iPhone market in the world. So it definitely takes some of the sting off the China numbers.”
Sales of Apple’s flagship device are down 4.5% compared with the iPhone 14 over their first 17 days after release, said the report quoting Counterpoint Research estimates in previously unreported figures provided to Bloomberg News. It further quotes Jefferies analysts led by Edison Lee saying that sales of iPhone 15 were down by an even sharper double-digit percentage from its predecessor after Huawei outsold Apple overall, powered by the surprising debut of the Mate 60 Pro. Huawei has now taken the top spot in the market from Apple, Jefferies wrote in a note on Monday. “The trend suggests the iPhone would lose to Huawei in 2024,” Lee and colleagues wrote. “We believe weak demand in China would eventually lead to lower-than-expected global shipments of iPhone.”
The twin reports may mean a potential blow to Apple at a time it’s grappling with the weakest smartphone demand in a decade and a backlash from overheating models. Report claims that if the initial estimates are accurate, they represent one of the iPhone’s worst debuts in China since around 2018, when local names like Oppo and Vivo began to captivate Asian consumers.
According to Counterpoint, the iPhone’s slump in China is mainly on an economy struggling to rebound from its Covid trough. Overall, analysts are divided about the longer-term impact of US-China tensions on iPhone sales in China, the world’s largest smartphone arena. Many analysts argue that Huawei’s rising prominence could erode Apple’s dominance of the higher end of the market. Counterpoint estimates the Chinese company could sell 5 to 6 million units of the Mate 60 Pro alone this year. With some analysts estimating that this could rise to double-digits in 2024.
Bumper sales in the US
The report at the same time stressed that in the US, the iPhone 15 series is set to post a double-digit rise over 2022 in the first nine days of sales. “The US is hot right now with back-to-back stellar weekends for the new iPhone,” said Counterpoint research director Jeff Fieldhack. “It’s a positive sign from the biggest iPhone market in the world. So it definitely takes some of the sting off the China numbers.”
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