Jan 14, 2025 09:42 AM IST
Apple’s international iPhone gross sales declined by about 5% globally throughout the remaining quarter of 2024, as a consequence of underwhelming upgrades and rising Chinese language competitors
Apple Inc.’s international iPhone gross sales declined by about 5% throughout the remaining quarter of 2024 as a consequence of underwhelming upgrades and rivals making inroads in China, Bloomberg reported.
A person checks an iPhone 16 Professional Max as the brand new iPhone 16 sequence smartphones go on sale at an Apple retailer in Beijing, China September 20, 2024. REUTERS//File Photograph(Florence Lo/Reuters)
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In response to the report, which cited Counterpoint Analysis knowledge, Apple gross sales declined by 2% for all the 12 months, whereas the business grew 4%.
iPhone market share had additionally dropped to 18% in 2024, largely as Chinese language rivals led by Xiaomi Corp. and Vivo took over. Even Samsung was affected by this. Motorola and Honor have been the fastest-growing manufacturers.
“This past quarter was particularly remarkable for the largest Chinese smartphone vendors,” the report quoted IDC analyst Francisco Jeronimo as having mentioned in a report. “They achieved a historic milestone as they shipped the highest combined volume ever in a quarter, representing 56% of the global smartphone shipments.”
All of this comes due to Apple being within the place of solely taking part in catch-up with regards to synthetic intelligence (AI) options, whereas Chinese language producers are creating their very own.
That is particularly the case in China (Apple’s largest market exterior the US and Europe) the place Apple’s suite of AI options referred to as Apple Intelligence is not even out there.
All of this led Apple shares to say no as a lot as 3% to $229.72 on the New York Inventory Change on Monday.
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Apple nonetheless, did see a rise in gross sales of the higher-end Professional and Professional Max fashions in China, accounting for greater than half of its shipments there.
Advisable Subjects Information / Enterprise / Apple iPhone gross sales drop 5% globally after AI rollout disappoints, Chinese language competitors grows
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