FILE — Customers check out the newly launched iPhone 15 at an Apple Store in Shanghai, Sept. 23, 2023. Apple has deep ties in the country, its second-largest market. But there are signs that Chinese consumers are becoming a harder sell.
“The golden time for Apple in China is over,” said Linda Sui, a senior director at TechInsights, a market research firm. One of the biggest reasons is the rising tension between the United States and China over trade and technology, Sui said. Without a significant lessening of geopolitical stress, it will be difficult for Apple to retain its position.
Six months later, Apple has plastered billboards across cities such as Shanghai, reminding residents they can still buy an iPhone 15 nearby. Similar promotions helped the iPhone account for four of the six top-selling smartphones in China in the final three months of last year, the company said during a call with Wall Street analysts.
The Mate 60 Pro was an immediate sensation. Its boost to Huawei’s sales carried over into the first six weeks of this year, when the company claimed the second-largest share of the smartphone market, up to 17% from 9% a year earlier, according to data from Counterpoint. As Huawei struggled, Apple rebounded. In 2022, its share of phones sold in China rose to 22%, from 9% in 2019, according to Counterpoint. Apple reported record revenue of $74 billion from the region during its fiscal year ending in September 2022.
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