Economy

Apple shipments fall by a fifth in China

Apple shipments fall by a fifth in China

Apple slashed down prices of its latest iPhones by as much as 20 per cent.

Apple's ongoing difficulties in China have been laid bare by new figures from IDC that suggest iPhone shipments fell by a fifth during the fourth quarter of past year. A slowing economy, lengthening replacement times and the iPhone's hefty price tag contributed to the U.S. giant's decline, it said.

However, as per the IDC report, the iPhone maker isn't the worst performing brand as Xiaomi Corp, another China-based company, fared even worse in the final months of a year ago as its shipments plunged nearly 35 percent.

Apple also has to cope with the rise of Chinese rivals such as Huawei, which is eroding its share of a market once pivotal to driving its growth.

More news: Reddit raises $300 million in finance round led by China's Tencent

Globally, the smartphones market has been witnessing a slump because of the lack of innovation which is discouraging consumers from replacing devices. "The report also claims that Apple will introduce a 'new Green-ish" color option for the most affordable iPhone of 2019, which will be the successor of the iPhone XR, and will also kill off one of the existing colour options - Black, White, Yellow, Coral, Red and Blue. "Apple didn't seem to change its Chinese marketing plans".

When things started to go pear shaped for Apple the big US Company chose to no longer breaks out detailed numbers on iPhone shipments in its quarterly results, meaning that the latest IDC data is the clearest indicator of shifts in sales for Apple where the iPhone represents 62% of all revenue. The company has focused on its push to ramp up its services business-the company's fastest-growing revenue segment-as iPhone sales have faltered. For the iPhone, revenue dropped 15 percent to $51.98 billion. But with the country announcing its slowest economic growth since 2009, Apple said its sales fell 27 per cent in the holiday quarter. "China accounts for three in 10 of all smartphones sold worldwide, and it is a market Apple simply can not ignore", Neil Mawston of Strategy Analytics told China Daily.

IPhone shipments in China dropped almost 20% on an annual basis during the 4th quarter of 2018, according to a new estimate.


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