financetom
Business
financetom
/
Business
/
Apple loses top spot in China market with shipments down 6.6% in Q1, data shows
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Apple loses top spot in China market with shipments down 6.6% in Q1, data shows
Apr 24, 2024 9:26 PM

(Reuters) - Apple ( AAPL ) lost its crown as China's biggest smartphone seller in the first quarter of 2024 as its smartphone shipments fell 6.6% from a year ago amid intense competition, preliminary data from research firm IDC showed on Thursday.

Honor and Huawei were tied for the top spot, with Honor's market share rising to 17.1% and Huawei's share climbing to 17%, IDC said, while the iPhone maker's market share fell to 15.6%.

The IDC declares a statistical tie when the difference between the share of revenue or shipments between two or more vendors is 0.1% or less.

"Apple's ( AAPL ) price promotions in the quarter were unable to mitigate the impact of the intense competition from Android players," Arthur Guo, senior research analyst at IDC China said in the report.

Overall smartphone shipments in China rose 6.5% to 69.3 million units, according to IDC.

Earlier this week, data from research firm Counterpoint showed Apple's ( AAPL ) smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020.

(Reporting by Mrinmay Dey in Bengaluru; Editing by Varun H K)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Barnes & Noble Education Names New Chief Accounting Officer, General Counsel
Barnes & Noble Education Names New Chief Accounting Officer, General Counsel
Mar 6, 2025
06:07 PM EST, 03/06/2025 (MT Newswires) -- Barnes & Noble Education ( BNED ) late Thursday disclosed two executive appointments, naming Gary Luster as chief accounting officer and Christopher Neumann as general counsel and corporate secretary. Neumann joins Barnes & Noble Education ( BNED ) from Six Flags (FUN), where he held the same legal leadership roles. Luster previously worked...
Graphjet Technology Gets Non-Compliance Notice From Nasdaq
Graphjet Technology Gets Non-Compliance Notice From Nasdaq
Mar 6, 2025
05:59 PM EST, 03/06/2025 (MT Newswires) -- Graphjet Technology ( GTI ) said late Thursday it received a notice from Nasdaq for not complying with listing requirements. The company said the notice was due to its delay in filing its quarterly report for the period ended Sept. 30, 2024, and its annual report for the period ended Dec. 31, 2024....
Trump expands clash with law firms with order against Perkins Coie
Trump expands clash with law firms with order against Perkins Coie
Mar 6, 2025
* Trump strips Perkins Coie employees of security clearances * Law firm has represented clients challenging Trump * White House also accuses firm of 'unlawful DEI' (Adds details, background throughout) By Trevor Hunnicutt and Mike Scarcella WASHINGTON, March 6 (Reuters) - U.S. President Donald Trump on Thursday said he would strip Perkins Coie employees of federal security clearances over the...
Hut 8 Releases February Operations Update
Hut 8 Releases February Operations Update
Mar 6, 2025
06:03 PM EST, 03/06/2025 (MT Newswires) -- Hut 8 ( HUT ) said Thursday it secured 592 acres in Louisiana for its River Bend campus, one of three sites comprising 430 megawatts of artificial intelligence data center development opportunities. In a corporate update, the company said the site will likely support a 300-megawatt utility-scale power plant with 200 megawatts of...
Copyright 2023-2026 - www.financetom.com All Rights Reserved