Apple's Q3 China smartphone sales slip, Huawei's soar
Adds data and context throughout
BEIJING, Oct 25 (Reuters) -Apple's APPL.O iPhone sales in China slipped 0.3% while rival Huawei HWT.UL posted a 42% surge in the third quarter of 2024, as competition intensifies in the world's largest smartphone market.
Apple reached second place with a 15.6% market share, though down 0.5 percentage points year-on-year, while Huawei claimed third place with 15.3%, gaining 4.2 percentage points, showed data from researcher IDC on Friday.
Vivo, which primarily sells budget phones, was the top vendor with a market share of 18.6%.
The contrasting performances follow Huawei's comeback last year in the premium segment with its Mate 60 series, featuring what analysts saidis a domestically produced chip.
The Chinese tech giant further challenged Apple's position with its latest Pura 70 model released earlier this year.
Apple has faced additional headwind in China, including restrictions on iPhone use by some government agencies.
The U.S. tech giant has since responded with multiple discount campaigns to boost sales.
The third-quarter performance was partly helped by the new iPhone 16, which went on sale on Sept. 20. On the same day, Huawei launched a competing product- a tri-foldable phone.
The new iPhones got off to a strong start in China, with sales 20% higher in the first three weeks since launch compared with the 2023 models, showed separate data from researcher Counterpoint.
"With its annual new product launch, Apple returned to China's top five market rankings with a 15.6% market share," IDC said.
"With subsequent increases in market promotions and the launch of Apple Vision Pro, the market demand for the iPhone 16 series is expected to gradually materialise in the future."
Overall, China smartphone sales for the third quarter rose 3.2% to 68.78 million units.
Reporting by Liam Mo and Casey Hall; Editing by Christian Schmollinger and Christopher Cushing
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
