iPhone Loses Market Share Dominance in China, Report Says

Apple’s iPhone lost its top spot among Chinese smartphones, according to a Jefferies analyst note originally reported by CNBC. A lackluster release of the iPhone 15 allowed Huawei to replace the iPhone as the number one spot for market share. Apple expected the most expensive iPhone 15 to be a top seller, however, Jefferies analysts see a double-digit decline in sales for the phone this year. Volume growth for the iPhone has been negative since the launch of the latest model.

“We believe weak demand in China would eventually lead to lower-than-expected global shipments of iPhone.” Huawei launched the Mate 60 Pro, its latest high-end smartphone with a made-in-China processor. While the 7-nanometer processor is not as advanced as Apple’s 3-nanometer, Huawei’s technology development represents a significant advancement in the US-China chip war.

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