Economy

IPhone Sales in China Plunged 20 Percent Last Quarter: IDC

IPhone Sales in China Plunged 20 Percent Last Quarter: IDC”

According to IDC, the smartphone maker with the largest market share in China as of the fourth quarter is Huawei, followed by Oppo, Vivo, Apple, and Xiaomi.

Apple's October-December shipments suffered a almost 20-percent decline from the same period in the previous year.

"The imbalance between the increasingly severe domestic market environment and Apple's high product unit price has led to the declines of iPhone shipments in Chinese market", IDC said in a Chinese research report.

In the final three months of 2018, shipments of Apple's iPhone dropped 19.9 percent year-over-year while Xiaomi saw its shipments slashed by more than a third compared to the same period a year earlier.

Huawei had briefly trumped Apple to get to the No. 2 spot in the world.

The steep decline contributed to Apple's disappointing earnings report last month and a 15% drop in global iPhone sales in the December quarter. But with the country announcing its slowest economic growth since 2009, Apple said its sales fell 27 per cent in the holiday quarter. "Apple is facing a "code red" situation in China, and the right pricing strategy around XR and future versions will be key to putting a ring fence around the core installed base in the region". Also, as Huawei has kept its prices competitive, Apple is facing tough competition on the price front.

In response, the company has announced that it will be introducing price cuts to markets which have been affected by a stronger U.S. dollar with China likely being one of these markets given that third-party retailers such as JD.com are already selling iPhones at 20% lower prices. The company has focused on its push to ramp up its services business-the company's fastest-growing revenue segment-as iPhone sales have faltered. Sales on the Chinese mainland and in Hong Kong and Taiwan tumbled 27 percent on the year to USD13.2 billion, the firm said on January 30 in its financial report for the first quarter of its fiscal year 2019 - the final quarter of 2018.

Apple stock was mostly flat in trading on Monday.

Mawston said it is highly unlikely Apple will move any iPhone production to the US.



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