And a Happy New Year to the world’s coolest, wokest company!
China was so shiny and good to you.
New Apple Store in the Jing’an district in #Shanghai, China.
It cost over $11 million! pic.twitter.com/qdBmqftYcU
— S.L. Kanthan (@Kanthan2030) March 21, 2024
And then, like, it wasn’t.
GULP
Woah! $AAPL saw a 47% plunge in mainland China sales in November. And it’s NOT due to a bad economy as headlines will suggest.
China’s overall mobile phone market fell 5.1% to 29.6m units in November. That’s a decline of 1.59m units.
But foreign branded phones fell 47% to… https://t.co/uFF6hHoNqO
— Brian Tycangco 鄭彥渊 (@BrianTycangco) January 3, 2025
…But foreign branded phones fell 47% to 3.04m. They fell by 2.73m units!
The domestic brands alone registered a 19.1% YoY growth to 26,56m units.
Are the Chinese buying homegrown now? Has Apple lost its touch?
Read more…
