Apple acknowledges the significant importance of China, where it manufactures and sells millions of iPhones. Following the United States, China is Apple's second largest market, surpassing Europe. However, this dominance is fading.
The sales of iPhones in China have plummeted, causing Apple to be surpassed by Huawei and Xiaomi. According to the latest Counterpoint report, Apple holds 17.1% of the market share, down from 18.2% at the same time last year. In contrast, Huawei has 18.2%, and Xiaomi has recently reached 17.2%, edging past Apple in the last quarter of 2024.
This marks the first time in several years that Apple has not held a top two position in this ranking. Analysts attribute Apple's decline to various factors, including a lack of major innovations in recent iPhone models and increased government encouragement for consumers to choose local brands. Additionally, the overall smartphone market in China is slowing, with a 3.2% drop in demand during the last quarter of 2024.
