Foreign phone sales plunge 47% in China spelling trouble for Apple

Foreign phone sales plunge 47% in China spelling trouble for Apple


An Apple flagship store in Shanghai, China, October 15, 2024.

Cfoto | Future Publishing | Getty Images

Sales of foreign phone brands in China plunged in November, according to official data released Friday, underscoring further pressure on Apple, the biggest international handset vendor in the country.

In November, foreign mobile phone shipments in China stood at 3.04 million units, according to CNBC calculations based on data from the China Academy of Information and Communications Technology (CAICT).

That’s a fall of 47.4% from November 2023, and a 51% drop from October last year.

CAICT does not break down figures for individual brands, however Apple accounts for the majority of foreign mobile phone shipments in China with competitors like Samsung forming only a tiny part of the market.



Source

‘Terrifying’: Why U.S. senator in top intel post wants more spying on Chinese companies
Technology

‘Terrifying’: Why U.S. senator in top intel post wants more spying on Chinese companies

Go back a decade and most Americans had never heard of Huawei. Today, the Chinese telecom giant is a symbol of how quickly China can dominate a strategic technology sector and in the process create new national security and market threats for U.S. government and industry. Democratic Senator Mark Warner of Virginia, the top Democrat […]

Read More
Week in review: Stocks rise, Meta gets real on metaverse, and Salesforce bounces
Technology

Week in review: Stocks rise, Meta gets real on metaverse, and Salesforce bounces

Stocks eked out gains Friday and closed the week higher after the Federal Reserve’s favorite inflation gauge added to the case for an interest rate cut next week. For the week, the S & P 500 rose 0.3%, while the Nasdaq added nearly 1%. Both indexes logged back-to-back weekly gains. The Dow gained roughly 0.5%. […]

Read More
Biggest mistakes crypto investors make with estate planning
Technology

Biggest mistakes crypto investors make with estate planning

Roughly 1 in 7 people are leaving unclaimed property on the table, according to the National Association of Unclaimed Property Administrators. While the recent heavy selling in bitcoin and ether is rightly getting all the short-term attention, this estate planning issue is a longer-term one that’s likely to be exacerbated as crypto adoption and ownership […]

Read More