Jakarta, CNBC Indonesia – Apple’s position as the king of HP in China was finally dethroned by Huawei in the Q3-2023 report issued by analyst firm Jefferies. This is a blow for Apple, because China is the largest cellphone market in the world.
Jefferies analysts say weakening demand for the iPhone 15 in China will contribute to sales of the Cupertino manufacturer’s cellphone globally. According to the firm Counterpoint, Apple’s sales of iPhone products fell 9% year-on-year (YoY) this quarter.
In the first 17 days on sale, sales of the iPhone 15 were recorded to have decreased by 4.5% compared to the iPhone 14 released last year.
Following this news, Apple CEO Tim Cook suddenly ‘went down the mountain’ to visit China this week. Cook’s move underscores how important the Chinese market is to iPhones as they face growing challenges.
Report Reuters said Cook met with the Minister of Trade (Mendag) Wang Wentao on Wednesday (18/10).
This is known from the official statement from the Chinese Ministry of Trade (Kemendag). Apple and local authorities discussed technological development in China and trade relations with the United States (US), quoted Thursday (19/10/2023).
China is said to be taking a firm stance to promote a high level of openness in expanding market access. Wang said that the Bamboo Curtain country opened its doors as wide as possible for multinational companies who wanted to do business in his country.
This seems to refute the issue that the Chinese government plans to block iPhones in government circles. However, Chinese authorities previously warned their citizens that iPhones have security issues.
[Gambas:Video CNBC]
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Originally posted 2023-10-19 05:10:00.