Apple on Thursday disclosed its iPhone sales dipped slightly during the holiday-season quarter, signaling a sluggish start to the trendsetting company’s effort to catch up to the rest of Big Tech in the race to bring artificial intelligence to the masses.
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When Apple reported its December quarter earnings on Thursday, it revealed that China sales had dropped 11.1% on an annual basis. Cook told analysts that over half of the decline was due to inventory issues.
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The U.S. tech giant's fourth-quarter iPhone sales fell 18% in the world's largest smartphone market.
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The report estimated that smartphone shipments grew 1 per cent year-on-year in 2024, reaching 153 million units
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Apple on Thursday disclosed its iPhone sales dipped slightly during the holiday-season quarter, signaling a sluggish start to the trendsetting company’s effort to catch up to the rest of Big Tech in the race to bring artificial intelligence to the masses.
Apple led the Indian smartphone market in terms of value with a 23% share, while Vivo headed volume sales with a 20% share. Smartphone shipments in India grew by 1% to 153 million units. A significant shift towards premium devices and 5G adoption has been observed.
Apple struggles with iPhone sales in China and rising competition. See why AAPL stock may be at risk amid a stagnant market and ongoing DoJ lawsuit.