As the global smartphone market expands, Apple faces a challenging period with sales declining in almost every market globally. The Company’s iPhone sales are down about 10 percent in the first three months of 2024.that Apple has reported a decline in sales in almost every market across the globe, with the exception of Europe, according to its latest financial results.
Gil Luria, senior software analyst at DA Davidson, commented on the competition in China, stating that local brands like Huawei perform well due to their status as homegrown brands. However, Luria believes that the iPhone still holds an advantage in terms of features, functionality, and prestige, making it the preferred choice for consumers with the resources to buy it.
Apple is also dealing with legal battles with regulators in the US and Europe over its app store fees. A separate anti-monopoly lawsuit in the US against Google threatens the lucrative payments Apple receives from the search giant in exchange for making Google the default search engine on Safari, Apple’s internet browser.
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