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Apple lost its position as China’s top smartphone seller in 2024, with Vivo and Huawei surpassing it after a 17% drop in shipments, marking its largest-ever annual decline. Rising competition, Huawei’s comeback, and shifting consumer trends challenge Apple’s market position.
Apple has lost its position as China's top smartphone seller in 2024, with local rivals Vivo and Huawei surpassing the company after its shipments in the country fell by 17%, according to data released by research firm Canalys on Thursday.
This marks Apple’s largest-ever annual sales decline in China, with a drop seen in all four quarters of the year, including a significant 25% dip in the final quarter. For the year, Vivo, known for its budget smartphones, captured 17% of the market share, followed by Huawei at 16%, and Apple at 15%. The shift highlights the increasing competition Apple faces from domestic brands in one of its most important global markets.
The decline also underscores how factors such as the lack of artificial intelligence features in the latest iPhones—especially in a China where ChatGPT is not accessible—are impacting Apple’s competitive edge. Canalys analyst Toby Zhu remarked, "This is Apple's worst performance in China to date."
He further pointed out the challenges facing Apple's premium market position, noting the strong presence of Huawei’s flagship releases, the rise of foldable Android phones in the high-end market, and growing consumer loyalty to brands like Xiaomi and Vivo, which continue to innovate with new technologies.
Apple had experienced four years of consistent growth following U.S. sanctions on Huawei in 2019, which limited its access to American tech. However, since launching new phones with domestically-produced chipsets in August 2023, Huawei has made a strong return to the premium segment, posting a 24% increase in shipments in the fourth quarter.
Apple has responded to the market pressure by offering rare discounts, including a four-day promotion in China from January 4-7, where it offered price cuts of up to 500 yuan ($68.50) on its iPhone 16 models through its official channels. E-commerce giants, such as Alibaba’s Tmall, followed suit with their own price cuts, offering discounts up to 1,000 yuan ($137) on the latest iPhone 16 series.
Among the top five vendors, Xiaomi showed the strongest growth, with a 29% increase in shipments in the fourth quarter, while Oppo and Vivo saw increases of 18% and 14%, respectively, according to Canalys data. Overall, smartphone shipments in China grew by 4% year-on-year in 2024, reaching 285 million units.
Fears of wider escalation grow despite President Donald Trump saying U.S. strikes on Iran could end within weeks. Meanwhile missile attacks, tanker incidents and rising casualties across Israel, Lebanon and the Gulf heighten risks to regional stability and energy routes.
Four astronauts blasted off from Florida on Wednesday on NASA's Artemis II mission, a high-stakes voyage around the moon that marks the United States' boldest step yet toward returning humans to the lunar surface later this decade in a race with China.
An earthquake of magnitude 7.6 struck in Indonesia's Northern Molucca Sea on Thursday, killing one person, damaging some buildings and triggering tsunami waves, authorities and witnesses said.
President Donald Trump staunchly defended his handling of the month-old U.S.-Israeli war on Iran in a prime-time address on Wednesday, saying the U.S. military was nearing completion of its mission while also reinforcing his threats to bomb the Islamic Republic back to the Stone Age.
One U.S. crew member has been rescued after Iran downed a warplane, while the search continues for a second. At the same time, Iran has officially told mediators it will not meet U.S. officials in Islamabad in the coming days, calling U.S. demands unacceptable, according to The Wall Street Journal.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
China's three largest state-owned airlines have issued warnings regarding their financial outlook for the current year, acknowledging that the eruption of war involving Iran has driven jet fuel prices to unsustainable highs.
Stock markets across Asia fell on Monday as escalating conflict involving Iran drove oil prices sharply higher, fuelling fears of inflation and a potential global recession, with investors reacting to disruption risks in the Strait of Hormuz and prolonged hostilities.
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