New iPhone’s Initial China Sales Lag Predecessor, Jefferies Says
- Weak economy and lockdowns have dulled consumer appetite
- World’s biggest smartphone market is having a down year
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Chinese consumers bought fewer iPhone 14 handsets in the early days of its availability than the product’s predecessor a year ago, Jefferies said in a note on Monday.
Sales of Apple Inc.’s latest smartphone series in the first three days of delivery came to 987,000 units, 11% lower than comparable sales of the iPhone 13 family last year, analysts including Edison Lee wrote in the note. It’s a rare double-digit decline for the iPhone, whose sales had been the most resilient in a Chinese smartphone market that’s seen its domestic leaders slump all year.