Apple Inc’s AAPL smartphone gross sales declined 0.3% 12 months over 12 months within the third quarter, although demand for the iPhone 16 collection, launched in September, held regular in comparison with earlier generations, in keeping with the IDC report.
This efficiency helped Apple regain its No. 2 place in China’s smartphone market, reaching a 15.6% market share—simply behind Vivo, which led the market with an 18.6% share, boosted by 21.5% development in shipments.
In a robust comeback, Huawei Applied sciences Co grew its shipments by 42% yearly to seize 15.3% of the market, following 4 consecutive quarters of double-digit development.
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Huawei’s superior China-made processor, which stoked patriotic assist amid the tense geopolitical backdrop, has pushed the model’s premium section success regardless of U.S. sanctions.
Xiaomi Corp XIACF XIACY additionally noticed beneficial properties, rating fourth with a 14.8% market share as its shipments elevated by 12.8%, fueled by a push in each budget-friendly and high-end segments.
Honor, the previous Huawei sub-brand, took fifth place with a 14.6% share, although its shipments declined by 22.5% throughout the quarter.
The general Chinese language smartphone market, the world’s largest, grew 3.2% 12 months on 12 months to 68.8 million models within the third quarter, marking a fourth straight quarter of development. IDC analyst Arthur Guo attributed this rise to a “important wave of gadget upgrades” driving China’s smartphone restoration.
The efficiency coincides with China’s stimulus plans and the upcoming vacation season.
In the meantime, Apple provided notable promotions for the iPhone 16 in China, with pre-release reductions on platforms like PDD Holdings Inc PDD Pinduoduo and Alibaba Group Holding BABA Taobao. Forward of Singles’ Day, Apple added additional worth reductions to draw extra patrons.
Apple chief Tim Cook dinner not too long ago met with Jin Zhuanglong, China’s Minister for Trade and Info Expertise. The minister reportedly expressed hopes that Apple will develop its presence in China and collaborate with native companies.
The go to marks Cook dinner’s second go to to China in 2024. He showcased his visits to an natural farm and historic neighborhoods throughout his journey.
Needham analyst Laura Martin expects iPhone gross sales to account for 89%-96% of Apple’s 2025 income.
Apple inventory gained 35% within the final 12 months. Traders can acquire publicity to the inventory by iShares World Tech ETF IXN and Vanguard Info Tech ETF VGT.
Value Motion: AAPL inventory is up 0.85% at $232.52 on the final verify on Friday.
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