APPLE's iphone sales in China fell 24 per cent year on year in the first six weeks of 2024, according to research firm Counterpoint, reports Reuters.
The US company faced increased competition from domestic rivals such as Huawei. The US tech giant's chief competitor in China in premium smartphones, Huawei, saw unit sales rise by 64 per cent in the period.
This could fan fears of a slowdown in demand for the US company, whose revenue forecast for the current quarter was US$6 billion below Wall Street's expectations.
Shares of the iPhone maker closed 2.8 per cent lower on Tuesday and have lost about 12 per cent of their value so far this year, underperforming their big tech peers in the United States.
SeaNews Turkey
The US company faced increased competition from domestic rivals such as Huawei. The US tech giant's chief competitor in China in premium smartphones, Huawei, saw unit sales rise by 64 per cent in the period.
This could fan fears of a slowdown in demand for the US company, whose revenue forecast for the current quarter was US$6 billion below Wall Street's expectations.
Shares of the iPhone maker closed 2.8 per cent lower on Tuesday and have lost about 12 per cent of their value so far this year, underperforming their big tech peers in the United States.
SeaNews Turkey
