According to observations made by Jefferies analysts on Sunday, the sales volume of the iPhone continued to decline significantly during the Labour Day Holiday week in China, and its position in the market during this period fell to sixth place compared to its third-place position a year ago.
Referring to market research, the analysts calculated that the total smartphone sales volume in China increased by approximately 2% compared to the same period last year, consistent with their forecast of a 3% increase for the full year 2024.
This year’s increase is mainly attributed to Huawei’s sales, which saw a single-digit high percentage increase, while sales of smartphones using the Android operating system remained unchanged, and iPhone sales volume experienced a double-digit significant percentage decrease. Vivo took the lead in market share this year, with Huawei and Honor ranking second and third respectively, while the iPhone came in fourth.
However, Jefferies observed an increase in the number of promotional discounts for the iPhone 15 Pro and Pro Max models; these discounts increased by between 2% and 6% on major online retail platforms last week, likely as a strategy to boost sales.
The most significant price discounts were seen on the PDD platform, where discounts reached approximately 21%, and on the JD platform, where discounts were around 16%. According to analysts, discounts on iPhones began to increase even before the start of the 618 shopping festival, which typically starts in the last week of May.
“We believe Apple (NASDAQ:AAPL) may implement significant promotional discounts during the 618 shopping festival to maintain its market share in the iPhone. Jefferies analysts are focusing our attention on this strategy for the upcoming 618 event,” they said.
Source: investing.com
