Apple has reassured investors about strong demand for its iPhones in China, despite a looming threat from Huawei and other local smartphone makers.
In an interview, Apple CEO Tim Cook revealed that the company set a quarterly record for iPhone sales in mainland China during the September quarter. This remarkable achievement is a testament to Apple’s continued popularity and competitiveness in the world’s largest smartphone market.
Cook further noted that Apple captured four of the five best-selling smartphones in urban China, underscoring the brand’s dominance and appeal among Chinese consumers.
Although the overall smartphone market in China saw a 3% decline between July and September compared to the previous year, Apple appears to have gained market share during this period. This indicates that despite the difficult economic conditions, consumers in China continue to show a strong preference for iPhones.
Qualcomm, Apple’s chip supplier, also shared positive news, indicating that the prolonged slump in the smartphone market is winding down, with a notable recovery in China leading the way. Similarly, Qorvo, another supplier of Apple’s wireless connectivity chips, reported declining inventory levels among its Chinese customers and posted its biggest quarter of bookings in more than two years.
Qualcomm and Qorvo expressed optimism, with Qualcomm anticipating a significant 35% quarter-on-quarter increase in sales to Chinese smartphone customers. Despite facing new competition from Huawei chips, Qualcomm expressed confidence that Huawei’s re-entry into the market will not affect its relations with Chinese smartphone companies.
In short, Apple’s strong iPhone sales in China, along with positive indicators from its chip suppliers, suggest that the smartphone market is gradually recovering, especially in China.
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