17.06.2024 Issuer Call Redemption Notice

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Boyan Girginov

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Apple's iPhone Sales Soar 52% in China

Your capital is at risk if you invest. You could lose all your investment. Please see the full risk warning here.

  • iPhone sales rebound in April
  • Mobile demand in China rebounds

Apple’s iPhone sales in China surged by 52% in April[1] compared to the same month last year, marking a significant recovery from the early months of 2024.

This impressive growth follows a challenging start to the year, where Apple faced stiff competition from local brands like Huawei in the premium smartphone segment.

Shipments of foreign-branded smartphones in China rose to 3.5 million units in April, up from 2.3 million units the previous year[2].

While the report did not single out Apple, the company’s strong market presence implies it contributed heavily to these figures.

Source: CAICT

March saw Apple’s shipments in China increase by 12%, a notable improvement after a 37% decline in the first two months of 2024.

The positive trend is expected to continue in May, fueled by Apple’s recent aggressive discount strategy on its official Chinese website, where discounts of up to 2,300 yuan ($318) are being offered on various iPhone models.

Apple CEO Tim Cook recently forecasted growth in iPhone sales for certain markets, including China, despite an 8.1% drop in second-quarter revenue from the Greater China region.

The current price reductions, which are twice as substantial as those offered in February, come in response to Huawei’s latest high-end smartphone releases, including the Pura 70 series launched last month and the Mate 60 series from August.

In the first quarter of 2024, Huawei surpassed Apple to become the second-largest smartphone vendor in China.

It is expanding its retail presence by opening new flagship stores and increasing its distribution network. Meanwhile, Huawei’s former sub-brand Honor remains the market leader.

Overall, China’s smartphone market is bouncing back robustly, with total sales increasing by 25.5% to 22.7 million units in April.

This surge in iPhone sales demonstrates Apple’s ability to navigate competitive challenges and adapt its strategies to maintain a strong market position in China.

Investors can long Apple using our 1x Apple, 3x Apple.

Alternatively, traders can short Apple using our -1x Apple, -3x Apple.


Footnotes:
  1. CAICT
  2. CAICT
>
Websim is the retail division of Intermonte, the primary intermediary of the Italian stock exchange for institutional investors. Leverage Shares often features in its speculative analysis based on macros/fundamentals. However, the information is published in Italian. To provide better information for our non-Italian investors, we bring to you a quick translation of the analysis they present to Italian retail investors. To ensure rapid delivery, text in the charts will not be translated. The views expressed here are of Websim. Leverage Shares in no way endorses these views. If you are unsure about the suitability of an investment, please seek financial advice. View the original at

Your capital is at risk if you invest. You could lose all your investment. Please see the full risk warning here.

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