In China, consumers are opting to buy domestic products amid increasing tensions with the West, at least when it comes to their smartphones.
Apple’s iPhone sales in the world’s second largest economy, which are critical to its global revenues, nosedived 24% in the first six weeks of 2024, according to a new report from Counterpoint Research. But over that same period, China’s tech giant Huawei saw its sales surge 64%. Apple has struggled against “stiff competition” for high-end products from the “resurgent” Chinese competitor, Counterpoint’s senior analyst Mengmeng Zhang said of the data in a statement…Read More