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Worry for Apple as iPhone sales in China slide?

According to recent analysis, Apple’s iPhone sales in China dropped some 24% in the first six weeks of 2024 compared to the same period last year.

Apple faces stiff competition from local rivals in one of its biggest markets.

Meanwhile, Huawei, a Chinese company, saw its sales soar by 64% in its home market during the same period, the analysis demonstrated. But we do not have sales data of other countries for comparison.

The report also said that overall smartphone sales in China shrank by 7% in the same period.

Huawei, which suffered for years from US sanctions, boosted its sales after launching its Mate 60 series of 5G smartphones in August 2023.

Is this a worry for Apple, after all, the iPhone is Apple’s flagship product? Also, Apple recently junked its electric vehicle project and has been left behind in AI. Is the crown ever-so-slightly slipping?

Apple 3 month share price with 50 day moving average

Apple 3 month share price with 50 day moving average

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