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Apple has lost its position as the top smartphone seller in China, with its market share dropping to 15% and iPhone sales declining by 25% in the last quarter of 2024. Local brands Vivo and Huawei have overtaken Apple, capturing 17% and 16% of the market, respectively. Analysts attribute Apple's struggles to the absence of AI features in its latest models and increasing competition, prompting the company to implement discounts and enhance trade-in options to regain market share.
Apple has lost its position as the largest smartphone vendor in China, overtaken by Vivo and Huawei after a 17% decline in annual shipments, marking its worst performance in the market. Vivo captured 17% and Huawei 16% of the market share, while Apple fell to 15%. The decline is attributed to the lack of artificial intelligence features in the latest iPhones, alongside strong competition from domestic brands and Huawei's resurgence with new flagship models.
Apple has fallen to third place in China's smartphone market in 2024, with a 17% decline in annual shipments, marking its worst performance in the country. Local competitors Vivo and Huawei have overtaken Apple, capturing 17% and 16% market shares, respectively. The decline is attributed to the lack of AI capabilities in the latest iPhones and increased competition from domestic brands, including a resurgence of Huawei's flagship models.
Chinese energy-drink maker Eastroc Beverage Group Co. is nearing a deal with Morgan Stanley and UBS for a second listing in Hong Kong, potentially raising up to $1 billion. The company, which has seen its Shanghai shares rise 76% over the past year, is exploring options to support its international expansion. Other mainland firms also pursuing Hong Kong listings include Contemporary Amperex Technology and Foshan Haitian Flavouring & Food.
Chinese energy-drink maker Eastroc Beverage Group Co. is nearing a deal with Morgan Stanley and UBS for a second listing in Hong Kong, aiming to raise up to $1 billion. The company, which has seen its Shanghai shares rise 76% over the past year, is part of a trend among mainland firms seeking offshore funding amid tightened regulations at home. Eastroc, founded in 1994, offers a range of beverages and operates 12 production bases in China.
Apple's iPhone shipments in China fell 25% in Q4, leading to a 17% annual decline, marking its largest drop in the market. As a result, Apple was overtaken by local rivals Vivo and Huawei, capturing only 15% market share, while Huawei's shipments rose 24% in the same period. The decline is attributed to increased competition and the absence of AI features in the latest iPhones.
Apple has fallen to third place in China's smartphone market in 2024, with a 17% decline in annual shipments, marking its worst performance in the country. Local competitors Vivo and Huawei have overtaken Apple, capturing 17% and 16% market shares, respectively, as Huawei's resurgence in the premium segment and the rise of budget brands intensify competition. The absence of AI features in the latest iPhones has further diminished Apple's competitiveness in this key market.
Apple's iPhone shipments in China fell 25% in Q4 2024, with the company maintaining a narrow market lead at 17% share, shipping 13.1 million units. Huawei closely followed with a 17% share and 12.9 million units shipped, marking a strong comeback in the premium segment. To counteract competitive pressures, Apple is enhancing retail experiences and user retention strategies.
UBS Global Wealth Management's Tantia highlights a "Goldilocks scenario" for the U.S. economy, where growth remains strong while inflation concerns ease, potentially driving the S&P 500 to 6600 by year-end. In Asia, despite challenges in China, a positive growth outlook and stabilizing currencies could benefit equity markets, particularly in Taiwan, while selective exposure to high-dividend stocks in China is advised.
Mainland China's smartphone market rebounded in 2024, shipping 285 million units, a 4% increase after two years of decline. Vivo led with a 17% market share, followed by Huawei, Apple, OPPO, and HONOR, amidst intense competition and strategic innovations driving consumer demand. Looking ahead, shipments are expected to exceed 290 million units in 2025, supported by government subsidies and a recovering economy.
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