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Apple sales fall double—digit% on China's Double 11, Huawei up 7%

Stock SpotlightThursday, Nov 21, 2024 8:45 am ET

1min read

Apple experienced a significant year-on-year decline in sales during China's Double 11 shopping festival, with a double-digit percentage drop between October 18 and November 10, according to Counterpoint Research. In contrast, rival Huawei saw a 7% increase in sales, driven by aggressive price cuts on its popular Pura 70 and Mate 60 models. The festival saw a surge in competition, with an unusually high number of rival smartphones launched during the event, putting added pressure on Apple.

"Most major Chinese manufacturers, except Huawei, strategically launched their latest flagship devices ahead of the festival, contributing to Apple's decline," noted Counterpoint. Last year, only Xiaomi took a similar approach.

Despite heavy discounts and promotions, overall smartphone sales in China during Double 11 dropped by 9% compared to the previous year, reflecting weaker consumer confidence amid a sluggish economy.

Still, Apple managed to retain some competitive edge. Its iPhone 16 Pro and iPhone 16 Pro Max emerged as the festival's best-selling models. To boost performance, Apple rolled out price cuts and promotions, which helped stabilize its sales amid fierce competition.

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Holiday_Context5033

11/21

$AAPL, you've had your run, now it's time to come back down. You've become too bloated, little pig.

DeFi_Ry

$AAPL

mattko

$CVNA The market is fundamentally flawed. 29,000 people with a combined net worth of over $2 billion are unable to purchase $AAPL shares.

Gix-99

I'm a big fan of $AAPL's recent gains, with prices skyrocketing to unimaginable heights.

lem_lel

Huawei's strategy paying off. Aggressive cuts on hot models, pretty slick move in a competitive market like China.

KookyPossibleTheme

Chinese market still volatile with weak consumer confidence.

whoisjian

China's economy slowdown feels like the dark cloud that keeps on raining. Makes me rethink my strategy with $AAPL. Might diversify more into local tech companies for a hedge.

Excellent-Win-4625

Gotta respect Huawei playing hardball with discounts. Apple could learn to play this game better in China. Maybe next Double 11 they drop some real bomb prices on those iPhones.

Medical-Truth-3248

Huawei definitely flexed with those Pura 70 and Mate 60 deals. But Apple still managed to sell a lot of iPhone 16 Pro. Guess it's about balancing promotions and brand loyalty in this market.

stanxv

Huawei wins China battle, but $AAPL holding strong

EmergencyWitness7

iPhone 16 Pro saving Apple's face

foureyedgrrl

Apple's dip in China isn't shocking, given the flood of new devices. Huawei's move with those cheap flagships was smart. Wonder how long Apple will hold out before a China-centric revamp? 🤔

k_ristovski

iPhone 16 Pro doing well despite the mess, Apple fans holding strong. Wonder if new products will shake things up.

Ubarjarl

Discounted iPhones couldn't stop Huawei's momentum

LividAd4250

Double digit drop? Not great for $AAPL, but the 16 Pro series holding strong is a silver lining. Keeping my position for now but watching those Chinese rivals closely.