(Bloomberg) — Apple Inc.’s iPhone shipments in China rose 40% in May, continuing a recent recovery as major retailers offered deep discounts ahead of the country’s June shopping festival.
Most read articles on Bloomberg
Smartphone shipments rose more than 13 percent, according to calculations by Bloomberg News based on official data, but foreign brands, led by Apple Inc., grew almost four times as fast. Foreign-made smartphones accounted for just over 5 million of total shipments, according to the latest data from the China Academy of Information and Communications Technology.
The latest figures are further evidence that Apple is bouncing back after global iPhone shipments fell nearly 10% in the first quarter, but weak sales in China masked an improvement in the overall market – concerns that had weighed on the company’s shares earlier this year.
iPhone shipments began to recover around March and surged by more than 50% in April, partly as Apple and its Chinese resellers slashed prices starting in early 2024 and ran sales leading up to a key June 18 shopping festival. Before that, Apple had suffered double-digit sales declines as it lost market share to Huawei.
The Chinese company says the number of active consumer devices running its in-house operating system is approaching 1 billion, highlighting how the company, which is subject to U.S. sanctions, is challenging Apple in the luxury sector.
(Adds additional context in third paragraph.)
Most read articles on Bloomberg Businessweek
©2024 Bloomberg LP
