Money & Business

iPhone Sales In China Tumble 19% In Worst Quarter Since 2020

Apple shares are marginally lower in premarket trading in New York following a report that first-quarter iPhone sales in China had been the worst since early Covid. This comes ahead of an earnings report from the world’s most valuable company next week and other souring reports from independent research firms tracking the slide in iPhone sales in China. 

Counterpoint reports that overall, China, the world’s largest handset market, recorded growth upwards of 1.5% year-over-year in the first quarter, marking the second consecutive quarter of positive year-over-year growth. Huawei is a rising star and the best performer of all major brands, growing 69.7% year-over-year, mainly because of the release of its 5G-capable Mate 60 series last fall. Meanwhile, Apple iPhone sales tumbled 19% in the quarter. 

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