Tim Cook previously announced record sales in September
International analyst Ming-Chi Kuo said iPhone shipments in the Chinese market fell more than expected.
He added that iPhone shipments in the Chinese market will continue to decline in 2024, which means that the Chinese smartphone market will continue to change due to the return of Huawei.
Based on previous financial reports, Apple expects revenue in the fourth quarter of 2023 to be the same as in the fourth quarter of 2022, meaning Apple’s performance will be weaker than expected. Ming-Chi Kuo said that the main reason is the decline in demand for iPhone in the Chinese market.
Apple is losing the Chinese market: iPhone shipments fell more than expected
Analysts at Counterpoint Research said last month that they estimated iPhone 15 sales in the first 17 days of its launch in China were down 4.5% compared with iPhone 14 sales in the same time period.
iPhone 15 sales were lower than expected, according to Ming-Chi Kuo, because many Chinese consumers began returning to the Android camp, such as the Huawei Mate 60.
Apple CEO Tim Cook previously said the Chinese market is seeing strong demand for iPhones, with iPhone sales in the September quarter setting a quarterly record in China.
