Apple is facing many challenges in the Chinese smartphone market. TF Securities analyst Ming-Chi Kuo has predicted that there will be a significant decline in iPhone shipments, especially for the iPhone 14 Pro and iPhone 14 Pro Max models. This decline resulted in a shortfall of 12 million units. But a Chinese company is also being blamed for this decline.
Apple Shocked By Huawei’s Return
Huawei’s comeback is also being blamed for this recession. This company has brought a big change in the Chinese market. Apple expects this trend to continue through 2024, further weakening shipments.
After facing many challenges, Apple beat revenue estimates with a 3 per cent decline in year-on-year revenue prices. The reason for the decrease was iPads and wearables, the demand for which was low. Tim Cook is still positive and highlights record-setting sales in the quarter.
Apple faces competition and regulatory challenges from Huawei’s Mate 60 Pro, but the company’s strategy appears to be flexible. Recently, Apple’s services revenue has increased, and CEO Tim Cook visited China. Apple still dominates globally.
