The American company’s share of the Chinese smartphone market fell to 15.7%.

Apple lost 24% of iPhone sales in the first six weeks of 2024. The reason was increased competition from domestic competitors, in particular Huawei.

As Reuters reports, citing a report from the research company Counterpoint, just at this time, the Chinese competitor of the Apple tech giant in the segment of expensive smartphones grew by 64%.

Additionally, Apple shares closed down 2.8% on Tuesday, March 5, and have lost approximately 12% of their value this year.

Counterpoint notes that the US company’s share of the Chinese smartphone market has fallen to 15.7%, placing the company in fourth place. Moreover, last year during the same period she was in second place.

Now second place is occupied by Huawei, whose market share has increased to 15.5% from 9.4%. And this despite the fact that the overall smartphone market in China decreased by 7%.

Latest news from Apple

A few days ago it became known that Apple would not hold a March presentation with an online broadcast to show the new iPad and Mac. New equipment will simply appear on the website.

The media wrote that the company is seriously concerned about the imminent release of the Samsung Galaxy Ring and is accelerating the development of its smart ring. The only question is the timing of release.

As reported, Apple also ended its decade-long push to create its own electric car, which had the potential to change the auto industry.