Stay ahead with real-time Wall Street scoops.

iPhone 16 Surge: Apple's Market Share Triumphs Over Rivals in China

Word on the StreetWednesday, Oct 23, 2024 3:00 am ET

1min read

Amid the latest developments in China's smartphone market, Apple's iPhone has witnessed a remarkable surge in activation share, particularly following the launch of its new flagship, the iPhone 16. Recent data indicates that during the 41st week of 2024, Apple's market share in China climbed sharply, approaching a significant 27% threshold. This robust growth places Apple ahead of competitors like Huawei, Xiaomi, Vivo, Honor, and OPPO.

This phenomenon has sparked widespread discussion online, with comments noting that while Apple's reputation may be contested, its sales performance remains strong. The current weekly metrics have prompted debates, highlighting the need to look at comprehensive data over time.

Analysts attribute the impressive growth in iPhone activation share to Apple's strategic pricing adjustments. For instance, during the Double 11 shopping festival, Apple's official store rolled out incentives including trade-in discounts up to 1100 RMB and combined savings reaching 1600 RMB for the iPhone 16 series. Additional models also featured significant price reductions.

Moreover, in the initial three weeks after its release in China, the iPhone 16 achieved a 20% sales increase compared to last year's iPhone 15. The iPhone 16 Pro series, in particular, saw a striking 44% increase in total sales, underscoring its strong market reception.

During this specific week, Apple's market share hit 26.54%, surpassing other major players and reclaiming dominance in the Chinese market. This success is largely attributed to sustained demand for popular models and consumer anticipation surrounding new releases. Apple's brand loyalty and high-end market strength remain key competitive advantages.

In contrast, Huawei's overall market share amounted to 18.02%, while Xiaomi and Vivo maintained significant positions with shares of 14.70% and 13.84% respectively. Honor and OPPO also held notable shares, further illustrating the competitive landscape in China's smartphone industry.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.