The second-largest economy in the world is seeing a sharp decline in iPhone sales at the time of the tech giant’s announcement. According to market research agency IDC, its smartphone sales fell by an astounding 10% in the first quarter of this year.
Due to rising competition, unfavorable economic conditions, and nationalism, Apple has lost ground in China in recent months.
IDC predicts that the rise of Huawei and other Chinese companies, such as Xiaomi and OPPO/OnePlus, will probably continue. Chinese shoppers are now gravitating toward the national brands of their country instead of Apple.
China continues to be a significant market for Apple, being the largest market after the US, in addition to being a vital hub for production. The business keeps providing discounts around the nation in an effort to increase sales.
Just last month, Tim Cook, the company’s CEO, traveled to Shanghai to inaugurate the second-largest Apple store globally.
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