Huawei is now the most popular smartphone brand in China, leaving Apple behind, according to experts at Jefferies. Many people in China are buying more Android phones from companies like Huawei, Xiaomi, and Honor. This is making the smartphone market grow. But Apple’s iPhones are not doing as well in China.
Jefferies analysts anticipate that this weakening demand in China will result in lower-than-expected global shipments of the iPhone 15 in 2023. This shift suggests that Huawei will overtake Apple in the Chinese market next year, a crucial region representing approximately 19% of Apple’s overall sales.
The analysts also highlighted stable iPhone discounts, except for the iPhone 15 models, and noted that iPhone 15 devices are selling at discounts to their official prices due to subdued demand in China. Additionally, Morgan Stanley recently adjusted its Apple price target, citing supply challenges and a more cautious outlook for the December quarter. Apple’s performance in China during this period will be closely monitored.
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