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Apple's iPhone shipments in China surge 40% in May amid aggressive discounting

Economic Times

Economic Times · 1y ago

Apple's iPhone shipments in China surge 40% in May amid aggressive discounting

Apple experienced a 40% increase in smartphone shipments in China in May, continuing the rebound seen in April, according to data from the China Academy of Information and Communications Technology (CAICT). Although not explicitly mentioned, Apple is the dominant foreign phone maker in China's market, suggesting the increase can be attributed to the company's performance. This follows a weak start to the year for Apple in China's smartphone market, but the company has seen growth in the past two months. Overall phone sales in China increased by 16.5% in May.

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Foreign smartphone shipments in China slump 47% in November

Economic Times

Economic Times · 8m ago

Foreign smartphone shipments in China slump 47% in November

In November, foreign-branded smartphone shipments in China, including Apple's iPhone, plummeted by 47.4% compared to the previous year, as reported by the China Academy of Information and Communications Technology. The shipments decreased to 3.04 million units from 5.769 million units previously. Overall, phone shipments within China experienced a 5.1% decline year-on-year, totaling 29.61 million handsets. This reflects a significant drop in foreign smartphone demand amid broader market challenges.

Chinese sales of foreign phone makers, including Apple, drop 9.7% in May - The Economic Times

Economic Times

Economic Times · 2m ago

Chinese sales of foreign phone makers, including Apple, drop 9.7% in May - The Economic Times

In May, sales of foreign-branded mobile phones in China, including those of Apple Inc., decreased by 9.7% year-on-year, according to the China Academy of Information and Communications Technology. Shipments fell to 4.54 million units, affected by increased competition from domestic brands. Apple's performance significantly influences the market, with discounts offered on newer iPhone models. Overall, phone shipments in China dropped by 21.8% year-on-year to 23.72 million units for the month.

Apple secures “Global Smartphone Seller” title despite headwinds in China

Livemint

Livemint · 1y ago

Apple secures “Global Smartphone Seller” title despite headwinds in China

Apple's iPhone series became the best-selling smartphone in China in 2023, as per data from market tracker IDC. Despite facing tough competition from local rivals and increased government restrictions on foreign technology, the iPhone secured the top position in shipments for both the fourth quarter and the entire year. Apple's success can be attributed to its ability to decline less than its competitors during the period, thanks to timely discounts and promotions. However, sustaining demand in China may be a challenge for Apple due to further weakening iPhone sales and government restrictions.

Apple’s India revenue up 42% to $8.7 billion in 2023, says American firm Morgan Stanley

IndianStartupNews

IndianStartupNews · 1y ago

Apple’s India revenue up 42% to $8.7 billion in 2023, says American firm Morgan Stanley

Apple's financial performance in India has experienced a significant surge, with revenues increasing by 42% to $8.7 billion in 2023, according to a report by Morgan Stanley. This growth is reflected in iPhone shipments, which grew by 39% to 9.2 million units. The report highlights the increasing importance of the Indian market for Apple, suggesting that India could surpass China as a larger iPhone market by 2027. The Indian government's policies to boost local manufacturing, coupled with Apple's strategy to increase production in the country, have contributed to this growth.

India iPhone business outpaces individual EU countries for Apple, Morgan Stanley says | TechCrunch

TechCrunch · 1y ago

India iPhone business outpaces individual EU countries for Apple, Morgan Stanley says | TechCrunch

Apple's iPhone revenue in India increased by 42% YoY to $8.7 billion in 2023, with shipments growing by 39% to 9.2 million units, making India its fifth-largest smartphone market, according to Morgan Stanley. Although India's iPhone market is not yet big enough to offset declines in China, if growth continues at the same pace, India could overtake China by 2027. The demand for premium devices with higher storage capacities is driving growth in India. Apple sees India as a significant growth engine, with revenue estimated to reach $40 billion by 2032.

Chinese consumers cheer Apple's iPhone 15, others prefer Huawei

Economic Times

Economic Times · 1y ago

Chinese consumers cheer Apple's iPhone 15, others prefer Huawei

Apple's iPhone 15 received mixed reactions in China, its third-largest market. Many users liked the faster chip and improved gaming capabilities, but some preferred Huawei's new smartphone. Huawei's recent launch and state media support amid US sanctions have influenced consumer sentiment. The smartphone market in China is in a slump, and the country's slowing economy may affect iPhone 15 sales. IDC predicts increased competition from Huawei will gradually reduce Apple's market share in China's premium phone market.

Apple's iPhone China shipments in February look even worse than estimated

Business Insider

Business Insider · 1y ago

Apple's iPhone China shipments in February look even worse than estimated

Apple's iPhone sales in China continue to decline, with a 33% drop in shipments in February compared to the same month in 2023. This follows a 39% decline in January. Counterpoint Research had previously estimated a 24% decline in iPhone sales in China during the first six weeks of the year. Apple is facing strong competition from Huawei, as well as challenges from government bans on iPhones and an economic slowdown. The company's CEO, Tim Cook, recently visited China in an attempt to strengthen ties in the country.

Chip wars boost Europe’s top tech company—for now

Livemint

Livemint · 1y ago

Chip wars boost Europe’s top tech company—for now

ASML, the Dutch chip-making equipment company, saw its sales in China surge to 46% in Q3 2020, up from 8% earlier in the year. The increase in Chinese orders was driven by a slowdown in Western demand and rush to source equipment before export controls were imposed this month. ASML's sales to China may remain strong this year, as only a small portion (10-15%) of shipments to the country would be affected by export bans. China's aggressive investment in industries like electric cars and wind turbines further drives its demand for semiconductors. However, China's dependence on ASML and its competitors for chip-making machines remains a challenge as export controls tighten.

BYD Shares Drop Over 5% as Chinese EV Maker Cuts Prices by Up to 35%

OutlookIndia

OutlookIndia · 3m ago

BYD Shares Drop Over 5% as Chinese EV Maker Cuts Prices by Up to 35%

BYD's shares fell over 5% after announcing significant price cuts—up to 35%—on its electric and plug-in hybrid vehicles, reflecting heightened competition concerns. The price adjustments affected 22 models, including the Seagull hatchback and the Seal hybrid sedan. Such aggressive discounting is seen as a response to sluggish industry growth and rising dealership inventories, amidst broader economic challenges in China. This trend may pressure other EV makers to implement similar cuts, impacting revenues.

India tops US smartphone supply in June quarter as Apple shifts from China

Economic Times

Economic Times · 1m ago

India tops US smartphone supply in June quarter as Apple shifts from China

India became the top supplier of smartphones to the US in the June quarter, driven by Apple's shift from China due to trade uncertainties. According to Canalys, the share of US smartphone shipments assembled in China decreased, while India's shipments to the US surged by 240%, now accounting for 44% of imports. Apple's supply chain shift is part of a China Plus One strategy, leveraging Indian manufacturing for the US market.

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