China’s Apple sales are down 30%, and the downturn is predicted to last until 2024

It appears that smartphone companies are facing difficulties due to economic conditions and supply chain issues. According to some recent pieces of information, the sales of the Cupertino-based tech giant have declined in China. Bloomberg quotes Jefferies analysts and mentions that the downfall is expected to continue this year.

Due to an exceptionally slow start, the iPhone 15 series suffered a 30% fall in sales year over year. In contrast to the international brand, the local company Huawei earned huge profits. The huge success of the company is attributed to the Mate 60 series. The series is quite famous in China. Just after the debut of the Mate 60 Pro, Apple launched the iPhone 15 series. It was followed by a gap of just a few days.

Analysts asserted that the Huawei flagship’s new Made-in-China processor—which business representatives have not yet publicly disclosed—attracted customers due to their sense of patriotism. According to Jefferies analysts, Huawei shipped 35 million units, and that number could have been higher if there hadn’t been some supply issues.

According to forecasts, Apple’s revenue is expected to decline further this year in double-digit figures. The company adopted different strategies to boost sales of the iPhone 15 series; however, it was not successful. On various online shopping portals, several iPhone deals were offered in the last week. Unfortunately, sales didn’t improve despite the low prices.