{{ currentBoardShortName }}
  • Markets
  • Indices
  • Currencies
  • Energy
  • Metals
Markets
As of: {{timeStamp.date}}
{{timeStamp.time}}

Markets

{{ currentBoardShortName }}
  • Markets
  • Indices
  • Currencies
  • Energy
  • Metals
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}

Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

More Video

May 28, 2024

Apple's China iPhone shipments up 52% as rebound gains steam

One thing about Apple is they've always been able to control the 'cool' factor: marketing expert

VIDEO SIGN OUT

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Apple Inc.’s iPhone staged a rebound in China last month with shipments rising 52 per cent amid a flurry of discounts from retail partners.

The latest figures from the China Academy of Information and Communications Technology showed smartphone shipments surging in the country, of which roughly 3.5 million units came from foreign brands, according to a Bloomberg calculation. The iPhone accounts for the vast majority of such devices, and its bounceback comes after it registered growth in March following steep declines in the first two months of the year.

Apple and its Chinese resellers have been cutting prices since the start of 2024, and those deals are extending into the sale season that accompanies the June 18th shopping festival in the country. Cupertino, California-based Apple had seen double-digit declines in sales of its latest generation of handsets, as it lost premium market share to Huawei Technologies Co.

“The growth reflects two things: Apple was preparing for the 618 online shopping festival, which we could see from its recent price discounts,” said Will Wong, an analyst at industry tracker IDC. “The resilient high-end users showed signs of buying better mobile devices to use for a longer time, which in turn will lead to longer replacement cycles.”

Embedded Image

April is traditionally a low-volume month for the iPhone maker and so small changes in purchases can result in large swings. Earlier this month, a Bloomberg Intelligence poll of consumers in China showed the iPhone returning as the most favored mobile device and an uptick in interest in upgrading to new devices.

“The iPhone’s shrinking China market share could stabilize soon, as our latest survey shows Apple’s comeback as Chinese consumers’ favorite smartphone brand after being displaced by Huawei,” analysts Steven Tseng and Sean Chen wrote.

“We believe the reversal in user interest could be due to the premiumization trend in China,” they wrote. “More than half of survey respondents say they’re willing to spend more than 4,000 yuan (US$550) on their next phone vs. just 33 per cent who currently use premium handsets.”