AGS NEWS – Apple’s iPhone sales in China are seeing a strong resurgence as the company has aggressively cut prices to attract cost-conscious consumers in a weak economy.

According to data from the China Academy of Information and Communications Technology (CAICT), shipments of foreign-branded cell phones in China, predominantly iPhones, increased by 52% in April to 3.489 million units.

This marks a significant acceleration from the 12% growth recorded in March.

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The Global Times, a state-owned tabloid, described the rebound as “impressive.”

Apple had a challenging start to 2024 in China, losing the top spot in the smartphone market during the first quarter as its shipments dropped by 19%.

Local competitors, such as Huawei, saw significant sales increases, with Huawei’s sales rising nearly 70% due to the successful launch of its Mate 60 series.

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China’s economic slump has led consumers to seek discounts, affecting various sectors, including smartphones.

iPhone sales began to recover in March after Apple and its retail partners reduced prices.

Apple announced further price cuts on some smartphones on Tmall and JD.com by as much as 23%, part of a campaign for the “618” shopping festival.

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These discounts have brought the iPhone 15 into the same price range as Xiaomi and Huawei smartphones.

Analysts at Jefferies stated that these reductions are necessary for Apple to maintain its market share in China, adding that the price cuts are likely to pressure competitors to follow suit, potentially affecting their profit margins into the third quarter of 2024.