Apple Inc (NASDAQ:AAPL, ETR:APC) saw a 0.3% market share decline in the Chinese market in the third quarter of 2024, despite initial sales of its new iPhone 16 model being “on par with its predecessor”, per IDC data.
Chinese arch rival Huawei, which has released the world’s first-ever twice-folding smartphone device, increased its market share by 42%.
Apple still remains the second-largest phone maker in the country with a 15.6% share of the market, in front of Huawei’s 15.3% but behind low-cost domestic rival vivo’s 18.6%.
Chinese smartphone shipments grew 3.2% to 68.8 million units in the third quarter.
According to IDC: “This marks the fourth consecutive quarter of expansion, fueled by a surge in device upgrades driven by sustained pent-up demand”.
Huawei’s new Mate XT model has stunned reviewers with its ability to unfold into a 10.2-inch screen.
It is the world’s first smartphone with two folding seams (despite confusing marketing materials calling it a ‘tri-fold' design).
Currently unavailable in the West due to sanctions against Huawei, the device is fetching upwards of £4,000 on eBay.
Its starting price in China is 19,999 yuan, or roughly £2,100.