Connect with us

Hi, what are you looking for?

Investing

Apple’s iPhone sales surge by nearly 40% in China in May

Apple Inc’s smartphone shipments in China saw a significant increase of 39.6% in May compared to the same month last year, according to data from the China Academy of Information and Communications Technology (CAICT).

This substantial growth highlights Apple’s dominant position in the Chinese market amid a broader rise in demand for foreign-branded smartphones.

Foreign-branded smartphone shipments soar

In May, the shipment of foreign-branded smartphones, led by Apple, jumped by 40.1% year-over-year, reaching 5.03 million units. This marks a 44.1% increase compared to the previous month.

Apple’s robust performance in the Chinese market underscores its ability to attract consumers despite strong competition from local brands.

Chinese brands maintain majority market share

While Apple and other foreign brands saw impressive growth, Chinese smartphone brands continued to dominate the market. Chinese brands shipped 25.30 million units in May, accounting for 83.4% of the total market.

This indicates that local manufacturers remain the preferred choice for the majority of Chinese consumers, even as foreign brands make significant inroads.

Impact on Apple’s stock

Following the release of the CAICT data, Apple’s stock rose by 0.89% in premarket trading, reaching $216.

This positive market reaction reflects investor confidence in Apple’s continued growth and strong performance in one of the world’s largest smartphone markets.

The surge in Apple’s smartphone shipments in China highlights the company’s successful market strategy and growing consumer demand for its products.

With foreign-branded smartphones seeing substantial growth and Chinese brands maintaining a strong presence, the competitive landscape in China’s smartphone market remains dynamic.

Apple’s stock performance further indicates positive investor sentiment towards the company’s future prospects in the region.

The post Apple’s iPhone sales surge by nearly 40% in China in May appeared first on Invezz

You May Also Like

Editor's Pick

In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

Editor's Pick

If you haven’t been following the “Twitter Files” saga, the gist of it is that the US federal government routinely pressured pre-Musk Twitter, and...

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....



Disclaimer: Questofprogress.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 Questofprogress.com