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Apple Is Getting Killed In China

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Apple Is Getting Killed In China

Apple Inc. (NASDAQ: AAPL) is far from being the most popular company among smartphone users in China.

According to Bloomberg, Apple is now the fifth most popular smartphone manufacturer in the largest overseas market. Out of every 100 smartphone sold in China in May, on average 10.8 of them were iPhone devices, which marks a decrease from 12 in the same period a year ago.

Huawei Technologies, a China-based smartphone manufacturer, is the most popular manufacturer with 17.3 percent of all smartphone sold in the country.

Apple has been facing an uphill battle in China as of late, and the company has suffered commercial, legal and regulatory setbacks.

Related Link: Apple Rocked After Chinese Ruling On iPhone Sales

Meanwhile, other local firms with the backing of the central government are happy to boost their market share at Apple's expense. Local brands Vivo, Oppo and Xiaomi now all outrank Apple and hold the remaining top three spots.

Apple's sales in Greater China, which includes Hong Kong and Taiwan aren't faring any better. Sales in the larger region fell 26 percent during the March quarter compared to the same period a year ago.

Apple's diminishing popularity in the key region has been a major overhang for the stock. Shares of Apple have lost 10 percent since the start of 2016 and around 25 percent over the past year.

Posted-In: Apple Apple ChinaEmerging Markets Top Stories Markets Tech Media Trading Ideas Best of Benzinga

 

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