Sales of Apple’s (AAPL) iPhone in China declined 24% during the first six weeks of the year as the consumer electronics giant faces rising competition in the nation of 1.4 billion people.
Data from Counterpoint Research shows that iPhone sales continue to slump as Apple struggles to compete against local smartphone firms such as Huawei, Oppo, Vivo and Xiaomi within the Chinese marketplace.
China remains Apple’s second largest market after the U.S. and strategically important to the company’s global sales.
Over the past year, Apple has reported declining sales of its electronic devices that include not only the iPhone but also the iPad and MacBook computer.
In China, Apple face a major competitive threat from Chinese technology leader Huawei, whose Mate 60 smartphone has become a big hit with consumers and is leading the high-end smartphone category.
Apple’s stock has declined 6% so far in 2024 and is currently trading at $175.10 U.S. per share.
