Apple Stumbles in China as Local Phone Makers Head Up-Market
- Greater China sales plunge by 26% as earnings disappoint
- Huawei Technologies winning market share with premium push
Apple Feeling Pain at the End of the iPhone 6 Cycle
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Apple Inc.’s slumping China sales reflect more than just a slowing economy and stalling market for smartphones. It’s also a sign that local vendors are finally producing high-end devices that can compete with the iPhone.
With the next iteration of the iPhone still months away and last year’s 6s failing to stand out as a major upgrade, Chinese consumers are less willing to pay a premium for an Apple product, according to Counterpoint Research. That is bad news for a company that has been counting on growth in the world’s largest smartphone market.