Apple lost 24 % of iPhone sales in the first six weeks of 2024

Apple lost 24 % of iPhone sales in the first six weeks of 2024

According to a report by Counterpoint, Apple experienced a decline of 24% in iPhone sales during the initial six weeks of 2024. This decrease can be attributed to heightened competition from domestic rivals, particularly Huawei.

In contrast, the Chinese tech giant witnessed a remarkable growth of 64% in the market for high-end smartphones. Furthermore, Apple’s shares concluded with a 2.8% decrease on Tuesday, March 5, resulting in an overall loss of around 12% in value for the company this year.

Counterpoint notes that the US company’s share of the Chinese smartphone market has fallen to 15.7%, placing the company in fourth place. Moreover, last year during the same period she was in second place.

Now second place is occupied by Huawei, whose market share has increased to 15.5% from 9.4%. And this despite the fact that the overall smartphone market in China decreased by 7%.

Apple’s recent announcement revealed that they have decided against hosting a March presentation featuring an online broadcast to unveil their latest iPad and Mac models. Instead, the new devices will be quietly introduced on their official website.

According to reports, Apple is reportedly feeling a sense of urgency due to the upcoming launch of the Samsung Galaxy Ring and is consequently expediting the development of their own smart ring. However, the exact release date of this innovative product remains uncertain.