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The iPhone needs a revamp, and its sagging performance in China is proof

Business Insider · 8m

Apple CEO Tim Cook faces challenges in making the company's latest hardware push successful, particularly with the launch of the $3,500 Vision Pro headset. This pricey mixed reality device is crucial for Apple to win over consumers, especially as signs emerge that the iPhone, its biggest moneymaker, is in need of a revamp. Net sales in China have been declining, with a 24% drop in iPhone sales in the first weeks of the year, resulting in Apple slipping to fourth place in smartphone market share. Factors contributing to this decline include a soft Chinese economy, changes in consumer preferences, and increased competition from local brands like Huawei. As Apple works on developing artificial intelligence (AI) capabilities, it hopes to offer new features that can give the iPhone an edge over its Chinese competitors.