Analysts’ early sales figures suggest Apple might face a steep double-digit slump due to China’s economic challenges.
Mobile industry tracker IDC estimates Apple’s shipments were down 4% in the third quarter, with both identifying Huawei Technologies Co’s return to the mobile arena spotlight as a key event in the period. Shenzhen-based 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.
Apple gets about 20% of its revenue from China, second only to the US. In addition, virtually all of the world’s iPhones are manufactured in China, through partners such as Foxconn Technology Group.