Mon. Feb 26th, 2024

Sales of Apple’s latest premium smartphone, the iPhone 15, are lagging behind its predecessor, the iPhone 14, in China. The iPhone 15 series was launched by the Cupertino-based tech giant at the Wonderlust event on September 12. However, Apple is now facing stiff local competition from Huawei, especially after the launch of the Mate 60 Pro.

Also Read| Pixel 8 Pro excels in durability test, outperforms iPhone 15 Pro Max, suggests report

According to Counterpoint data cited by Bloomberg, sales of the iPhone 15 are down 4.5% compared to the iPhone 14 in the 17 days since launch. The research blamed the loss of demand for the iPhone 15 on China’s economy, which is still trying to recover from the Covid slump. The market tracker also noted that the iPhone 15 is likely to have enjoyed a double-digit percentage increase in the first nine days of sales in the US.

Counterpoint research director Jeff Fieldhack told Bloomberg, “The US is hot right now with back-to-back stellar weekends for the new iPhone… It’s a positive sign from the biggest iPhone market in the world. So definitely takes some of the sting off the China numbers.”

Meanwhile, Jefferies analyst Edison Lee is predicting a double-digit percentage drop in iPhone 15 sales compared to its predecessor.

If both estimates are correct, it could point to the iPhone’s worst debut in China since 2018, when the likes of Oppo and Vivo began to woo local audiences.

Many analysts have argued that Huawei’s rise could erode Apple’s dominance in the premium smartphone market. Jefferies said on Monday that Huawei has now become the top smartphone vendor in China.

Counterpoint’s data suggests that Huawei could sell around 5-6 million units of the Mate 60 Pro this year, and that the figure could rise to double digits by 2024.

(With inputs from Bloomberg)

“Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!

Catch all the Technology News and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.


Updated: 17 Oct 2023, 09:02 AM IST

Source link