Apple Inc market share in China increased to all-time high in the fourth quarter, after six years when the iPhone 6 super-cycle was at its peak, according to research firm Counterpoint Research Tech giant now accounts for 23% of the whole Chinese market, as sales volume jumped 32% year-on-year in the quarter.
Apple became China's top vendor in Q4 after six years with 23% market share. Source: Counterpoint
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Open account Try demo Download mobile app Download mobile app- The research firm believes that lower starting prices in China and the impact of U.S. sanctions against main competitor Huawei in the high-end segment supported Apple. Year on year, Apple's unit sales surged 47% while Huawei's plunged68%.
- However total smartphone sales in China fell 9%, while Apple full-year smartphone sales also continued to move lower for the fourth consecutive year, declining 2% cent YoY in 2021, partially due to increasing strength of Xiaomi and other smaller brands.
- According to analysts, other factors negatively affect the sale of iPhones, including the same repetitive design, ongoing chip and component shortages which delay shipments of all OEMs. Additionally China's average smartphone replacement cycle is becoming longer.
- Apple is set to post quarterly earnings on Thursday. Wall Street analysts expect Apple to post about $118.3 billion in revenue, representing 6.48% year-over-year growth, and quarterly earnings per share of $1.89.
- Company did not provide formal revenue guidance for the Q1 2022 quarter. However, it did say that it expects to set new revenue records despite increasing supply headwinds during the period. Management team expects iPads to be its only product with lower sales compared with a year ago due to supply constraints.
Apple (AAPL.US) stock took a hit in recent days among broad sell-off of the technology sector. However sellers failed to break below the major support zone around $152.60 which coincides with 23.6% Fibonacci retracement of the upward move launched in March 2021 and long-term trendline. Recent news from China seems to support stock price in today’s premarket trade. Source: xStation5
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