Users prefer Huawei rather than Apple in China
It turned out that Apple's latest iPhone 15 series did not achieve good sales success in China. Following this news from China, Apple shares fell 1 percent in pre-market trading.
A new report on the iPhone 15 series will not be to Apple's liking. According to an analysis in the American media outlet Bloomberg News, iPhone 15 models showed less sales in the first 17 days of its release than iPhone 14 compared to the same period last year.
Analysts estimate a 4.5 percent decline, which means millions fewer devices were sold on the Apple scale. Following the news, Apple shares fell 1 percent in pre-market trading.
CHINA'S CHOICE
This decline in sales performance is attributed to declining consumer demand as well as increased competition from China's domestic brands such as Huawei. Research analysts at Jefferies say Huawei has overtaken Apple to become the best-selling smartphone maker in the region, and they predict this trend will continue until 2024.
In recent weeks, China has begun a frenzied consumption of Huawei's new smartphone model Mate 60 Pro, despite the US sanctions on Huawei. China has also banned government employees from using iPhones at work, citing security risks. This ban was a move that "tainted" iPhones locally in China.
Still, this ban was not such bad news for Apple. Weakness in the China region could be offset by strong-looking domestic sales in the United States.
Apple will release its quarterly revenue and profit data for July-September on November 2, which will include the first week's performance of iPhone 15 sales (iPhone 15 was released in the last week of September).
Source: Bloomberg News
