"Apple's iPhone has lost its leadership position in China's smartphone market." The US CNBC website reported on the 17th that a report from investment bank Jefferies showed that China's smartphone sales have shown positive year-on-year growth driven by sales of brands such as Huawei, Xiaomi and Honor. However, at the same time, iPhone sales have declined significantly year-on-year, which has allowed Huawei to replace Apple to take the top spot in China's mobile phone market share in the recent period.
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The latest statistics released by international market analysis agency Counterpoint Research show that Apple iPhone 15 has been on the market in China for more than half a month, but its sales have dropped by 4.5% compared with the performance of the iPhone 14 series in the same period last year. Analysts at Jefferies believe that iPhone 15 sales are expected to decline by double-digit percentages compared with the previous generation. In contrast, Huawei is showing strong sales growth with its new smartphones released in August this year. Counterpoint Research believes that Huawei Mate60Pro sales this year may reach up to 6 million units. Last year, Huawei sold a total of about 22 million smartphones. Jefferies believes that if this trend continues, Apple’s top spot in China’s smartphone market will be ceded to Huawei.
CNBC also cited a report released this week by Morgan Stanley analysts who said Apple's price target was lowered from $215 to $210. Analysts said they were more cautious about Apple's performance forecast for the next quarter due to supply headwinds and cut their iPhone sales forecast for the current quarter by 8%.
"Huawei concept stocks have soared on the Chinese stock market, and the market value of related cooperative companies has soared by US$34 billion." "Korea Economy" reported on the 16th that Huawei is becoming a catalyst for the rise of Chinese technology stocks. Shares of 32 partner companies soared after Huawei launched its latest smartphone in August. Some commentators believe that Huawei is "igniting the flames of China's stock trading." The stock price of SMIC, which supplies chips to Huawei, has surged, and the stock price of Huawei's electric vehicle partner Cyrus has also performed well. "Huawei's breakthrough has become an important turning point in enhancing people's confidence in China's market and economic prospects," a senior executive of an asset management company commented.
Xiang Ligang, chairman of the Information Consumption Alliance, told a reporter from the Global Times on the 17th that both Huawei and Apple ultimately rely on products to win. In recent years, Apple has not made much progress in product innovation. After Huawei breaks through the limitations of chips, it will gain a more active position in the market. Xiang Ligang believes that in the Chinese market, Huawei has overtaken Apple and will gradually consolidate this position. This is a general trend.
A recent report showed that global smartphone market sales fell by 8% in the third quarter compared with the same period last year due to declining demand for products in most developed countries. The report believes that as India is about to enter the holiday season and China is ushering in the "Double 11", a series of large-scale promotions will help the global mobile phone market recover.