05:07:48 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Apple CDR (CAD Hedged)
Symbol AAPL
Shares Issued 10,200,000
Close 2024-04-23 C$ 24.70
Market Cap C$ 251,940,000
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Globe/wire say Apple's Chinese woes deepen in Q1

2024-04-24 08:42 ET - In the News

The Globe and Mail reports in its Wednesday edition that Apple's smart phone shipments in China tumbled 19 per cent in the first quarter of the year, the worst performance since 2020, as the iPhone maker took a hit from Huawei's new product launches in the premium segment. A Reuters dispatch to The Globe says that Apple's share in the world's biggest smart phone market fell to 15.7 per cent in the first quarter from 19.7 per cent a year earlier. That put it almost level with Huawei, which saw sales jump 70 per cent, according to research firm Counterpoint. Apple lost its crown as the biggest smart phone seller in China to rival Vivo Global, sliding to third place in the quarter, followed by Huawei whose market share jumped to 15.5 per cent from 9.3 per cent a year earlier. Honor, a mass-market brand spun out of Huawei, was second. "Huawei's comeback has directly impacted Apple in the premium segment. Besides, the replacement demand for Apple has been slightly subdued compared to previous years," said Counterpoint analyst Ivan Lam. China is Apple's third-biggest market and generated around 17 per cent of its total revenue in the October-December quarter. Apple also faces competition from Android smart phone makers.

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