BEIJING, Jan 8 Reuters Apple39;s iPhone sales in China dropped by 30 in the first week of 2024, Jefferies analysts said in a note, adding to signs of growing competitive pressures from domestic rivals such as Huawei HWT.UL for the U.S. tech giant.
The decline in Apple39;s sales was the primary catalyst for an overall doubledigit drop in China smartphone shipments for the first week, according to a note the brokerage published on Sunday. Other Android brands and Huawei achieved relatively flat growth yearoveryear during this period, the note said.
This decrease in Apple39;s sales took place despite aggressive discounting of multiple iPhone models through major Chinese online marketplaces, according to the research note. For example, the iPhone 15 Pro and iPhone 15 Pro Max received a 16 price reduction on the ecommerce platform Pinduoduo in the first week of 2024.
The 30 drop represents an acceleration from the 3 yearoveryear decline the U.S. company saw for all of 2023 in its thirdlargest market, Jefferies said, adding that the brokerage derived this from its own market tracking. Specifically, the 3 decline in 2023 equated to a 0.4 decrease in Apple39;s market share.
Jefferies analysts said Apple39;s decline is largely attributed to competitive pressures from Chinese rivals, especially Huawei, which launched its Mate 60 series of phones in August last year.
Apple and Huawei did not immediately respond to requests for comment.
The Mate 60 line is widely viewed as…