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Apple Faces Growing Competition in China: Is Huawei Taking Over?
Chinese consumers may be shifting away from $Apple (AAPL.US)$ toward Huawei as sales of the latest iPhone declined by 6% in China during launch month compared to last year, while $Huawei Hongmong (LIST0795.SH)$'s Mate 60 series doubled sales to nearly 1.5 million.
“Against the backdrop of the strong growth of Huawei, Apple iPhone 15 series registered a 6 per cent decline in sales,” said Hayden Hou, China senior analyst at GfK. “Huawei Mate 60 series will continue to maintain its strong sales momentum going forward.”
Huawei abruptly released its Mate 60 and 60 Pro smartphones in the weeks leading up to the latest iPhone’s launch, drawing buyers and attention with its made-in-China Kirin processor, an apparent breakthrough in its fight to overcome US trade sanctions.
Preliminary sales figures suggest Apple may see a double-digit slump in China due to economic challenges affecting consumer demand. With the iPhone 15, Apple upgraded several key features of its lineup but has not been able to stir growth in the world’s biggest mobile market.
Apple generates 20% of its revenue from China, second only to the US. And relies heavily on Chinese manufacturing through partners like Foxconn.
But Apple's dependence on China is increasing pressure as tensions between US and China rise, with Beijing banning iPhones in some government agencies.
Apple is looking to move some of its manufacturing out of China to places like India and Southeast Asia, although the long-term effects of this decision are unknown. Additionally, tensions between Apple and China have increased recently as Beijing launched a tax and land-use investigation into Foxconn, a major supplier for Apple's iPhones.
Local brands Honor Device and Oppo took the top 2 spots in Q3 in China.
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