According to a study from Jefferies analysts published on Monday, Apple’s iPhone has been formally ousted from the top spot in China’s smartphone market share.
According to analysts, China’s smartphone sales have increased year over year, mostly due to strong double-digit growth in Android sales led by Huawei, Xiaomi, and Honour handsets. But according to the analysts, since the release of the iPhone 15, Apple’s iPhone has experienced a large, double-digit fall, and its volume year over year growth has been negative.
As a result, market share leader Huawei surpassed market leader iPhone.
The analysts predicted that weak Chinese demand would ultimately result in lower-than-anticipated global shipments of the iPhone 15 in 2023, adding that the pattern indicated that Apple will “lose” to Huawei in that year.
Less than 1% of Apple’s stock was down on Monday.
With the exception of the iPhone 15 models, discounts on iPhones have been consistent, according to Jefferies analysts, who also claimed that the average discount for Android “is not high” and that it is impossible to attribute Android’s volume rise to discounts.
According to the researchers, all used iPhone 15 devices are “trading at discounts to official selling prices,” which also shows the lacklustre demand in China.