Huawei Overtakes Apple in China

Estimated read time 1 min read

According to a Jefferies study on Monday, Huawei’s smartphones are becoming more popular in China and have surpassed Apple’s iPhone to capture the top spot in the market.  With a 23.33 percent market share, Huawei has emerged as the market leader in China, trailed by Apple in second place with a 22.21 percent market share.  According to a research by Edison Lee, a Jefferies analyst, smartphone sales in China saw positive increase year over year with a double-digit decrease in sales of Apple’s flagship device.  It is anticipated that Huawei’s new flagship model, the Mate 60 pro, might sell between 5 and 6 million units this year, while the company’s sales last year were 22 million units, thanks to the outstanding sales performance displayed by its new handsets.

In contrast, the research states that even though Apple’s most recent model has been available in China for over five weeks, sales have decreased by 4.5 percent from its predecessor.  Morgan Stanley analysts said they had lowered their quarterly forecasts for the iPhone by 8% and were more cautious about Apple’s performance projection for the upcoming quarter.

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E.F Team

Our team at Eastern Finance is made up of young and knowledgeable professionals who are here to provide you with business news from an eastern perspective.

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