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Apple’s China Sales Plunge Amid Weak Economy, Competition From Local Brands

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Apple’s China Sales Plunge Amid Weak Economy, Competition From Local Brands
Customers at an Apple flagship store after the launch of the iPhone 15, in Beijing on Sept. 22, 2023. Kevin Frayer/Getty Images
Panos Mourdoukoutas
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Business Analysis
According to a recent report from Counterpoint Market Pulse Service, Apple’s iPhone sales in China took a big hit in the fourth quarter of 2024 amid a weakening economy and competition from local brands.
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Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”