After seeing record pre-orders, Apple is facing slower-than-expected sales of its iPhone 15 series in China, according to new reports. Based on data collected by Counterpoint, iPhone 15 sales in China fell by 4.5% compared to the iPhone 14 generation during the first 17 days after their release. Jefferies Group analysts estimate an even more marked decline, in double digits.
Huawei reportedly outsold Apple with its newly launched Mate 60 series, and Jefferies analysts believe Huawei could realistically outperform Apple in 2024. The launch of the iPhone 15 series was also plagued by overheating issues likely attributed to reduction in demand in China. Demand for smartphones was quite low to begin with as 2022 saw historically low numbers, falling below 300 million units for the first time. The iPhone 15 series may be on its way to the lowest sales volumes since the 2018 iPhone Xs generation.
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