After posting record pre-order records, Apple is facing slower than anticipated sales of its iPhone 15 series in China according to new reports. Based on data collected by Counterpoint, sales of the iPhone 15 in China are down 4.5% compared to the iPhone 14 generation during the first 17 days after their release. Analysts from Jefferies Group estimate an even steeper, double-digit drop.
Huawei reportedly outsold Apple with its newly launched Mate 60 series and Jefferies analysts believe that Huawei could realistically outperform Apple in 2024. The iPhone 15 series launch was also plagued by overheating issues which likely attributed to the lowered demand in China. Smartphone demand was pretty low to begin with as 2022 saw historically low values, dropping below 300 million units for the first time. The iPhone 15 series could be en route to the lowest sales volumes since 2018’s iPhone Xs generation.