Apple Inc. experienced a 5% decline in global iPhone sales in the final quarter of last year, losing market share to Chinese competitors.
The company saw its global iPhone market share drop to 18% in 2024, down by a percentage point, according to Counterpoint Research.
Rival Samsung Electronics also lost share to rapidly growing Chinese Android device manufacturers, including Xiaomi and Vivo.
For the full year, Apple reported a 2% decline in sales, even as the broader market grew by 4%. The California-based company has been playing catch-up with artificial intelligence (AI), gradually introducing AI features since the iPhone 16’s release in September.
ALSO READ: Women’s Bank Loans Reach Record Levels in 2024 Growth Push
However, Apple has yet to launch AI-powered features like AI writing and image generation in China, as it seeks local partners to support these technologies. Analysts noted that some investors might have unrealistic expectations about the company’s AI advancements.
“Apple’s iPhone 16 series faced mixed reactions, partly due to the delayed launch of Apple Intelligence,” said Counterpoint’s director Tarun Pathak. “Despite this, Apple saw strong growth in non-core markets like Latin America.”
Although Apple’s sales in China decreased, it saw a higher proportion of sales from its premium Pro and Pro Max models, which made up more than half of the company’s sales in the region.
Meanwhile, brands like Motorola (Lenovo), Huawei Technologies, and Honor experienced rapid growth, according to Counterpoint’s research.
