On May 2nd local time, Apple released its latest quarterly financial report, which showed that it achieved revenue of $90.753 billion in the first three months of this year, a year-on-year decrease of 4%; As its third largest market, the revenue of Greater China was 16.372 billion US dollars, a year-on-year decrease of 8%.
According to CCTV's Kuaikan Weibo, Cook said that Chinese users are still very enthusiastic about Apple products. In the Chinese market, Apple is facing increasingly fierce competition. According to American media reports, Apple CEO Cook stated after the financial report was released that Apple still has more work to do in the Chinese market. He told investors that he still feels "very optimistic" about the Chinese market.
IPhone sales in China have decreased by 19%, marking the worst performance since 2020
According to the weekly report on smartphone sales released by Counterpoint on April 23, smartphone sales in China increased by 1.5% year-on-year in the first quarter of 2024, marking the second consecutive quarter of positive year-on-year growth.
Huawei stood out among all mobile phone brand manufacturers in the first quarter, with a year-on-year growth of 69.7%. Huawei's growth is largely attributed to the booming sales of its Mate 60 series, which supports 5G, coupled with its well-known brand awareness, resulting in a significant increase in its high-end market share above $600. Although Huawei's strong return has had an impact on other manufacturers in the market, Honor achieved a year-on-year growth of 11.5% in the first quarter with several popular models and the expansion of its offline channels.
Furthermore, it is worth noting that due to Huawei's comeback, which has changed the landscape of the high-end market, Apple's sales in the first quarter decreased by 19.1% year-on-year. This equipment has the worst performance in China since 2020.
Counterpoint official account
IDC: Honor and Huawei tied for the top spot in China's smartphone market in the first quarter
On April 25th, the latest quarterly tracking report on mobile phones released by International Data Corporation (IDC) showed that in the first quarter of 2024, the shipment volume of China's smartphone market was about 69.26 million units, a year-on-year increase of 6.5%. Similar to the global market situation, the sustained recovery of market demand has helped the Chinese smartphone market continue the rebound momentum at the end of last year, and the market performance has exceeded expectations. Thanks to the good market performance of manufacturers such as Honor and Huawei, the overall Android market has grown by 9.3% year-on-year.
The report shows that Honor and Huawei tied for the first place in the Chinese smartphone market in the first quarter. Apple's shipment volume decreased by 6.6% year-on-year, ranking third in the domestic market and losing its first "throne".
Despite continuous price adjustments and promotions, and the iPhone 15 Pro Max being the best-selling model during the Spring Festival, Apple is facing increasing challenges and pressure from competitors, and urgently needs to upgrade and innovate from all aspects of software and hardware to attract consumers.
Market performance of the top five smartphone manufacturers in the first quarter of 2024:
It is worth noting that in the fourth quarter of 2023 and throughout 2023, Apple's shipment volume ranked first in the domestic market.
