Apple Inc.’s latest quarterly results triggered investor fears that the company is losing clout in China, a long-prized market that generates roughly a fifth of its sales.
The signs of trouble in China have been accumulating for months. The country’s government imposed stricter bans on the use of foreign technology in the workplace. Local rival Huawei Technologies Co. released a hot new smartphone touted as a local alternative to the iPhone. And Apple began offering rare discounts on its latest models.
A resurgent Huawei and other manufacturers are posing a bigger threat than before, said Ivan Lam, an analyst at Counterpoint Research. In some cases, consumers are buying those brands rather than older iPhone 13 and 14 models, he said…Read More