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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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