Apple’s China iPhone Shipments Fall 35% In November Credit Suisse

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Apple’s China iPhone Shipments Fall 35% In November Credit Suisse

(Reuters) – Apple Inc’s iPhone shipments in China fell more than 35% in November, marking their second straight double-digit decline as sales of the cheaper iPhone 11 remained sluggish, brokerage Credit Suisse said on Thursday.

https://www.reuters.com

Shares of the company fell more than 1% to 267.67 in early trading.

Total iPhone shipments in China in the September-November period dropped 7.4% from a year earlier, Credit Suisse analyst Matthew Cabral said, citing data from China’s Ministry of Industry and Information Technology.

The latest iPhone 11 range hit stores in China in September, with short queues of die-hard fans contrasting with the hundreds who camped out ahead of some previous launches. bit.ly/2RM5DVc

Cabral also wrote that Apple would have a tough time pushing through tariff-related price increases to U.S. consumer if the 15% tariffs on billions in Chinese-made consumer goods come into effect on Dec. 15.

Apple has asked the Trump administration to waive levies on China-made Apple Watches, iPhone components and other consumer products. President Donald Trump said last month he was considering the request.

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Apple’s market share in China slipped to 5% from 7% in the third quarter, while Huawei Technologies Co Ltd captured a record 42% of China’s smartphone market in the same period, according to a report by market research firm Canalys released in October.

In its latest fourth quarter, Apple reported a 2.4% drop in greater China sales.

Reporting by Akanksha Rana in Bengaluru

Apple’s China iPhone Shipments Fall 35% In November Credit Suisse

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