Apple's iPhone sales have experienced a 5% decline globally in the final quarter of 2024, primarily due to increased competition from Chinese manufacturers and a delayed rollout of new artificial intelligence (AI) features in China. The company's market share for iPhones fell to 18% last year, as reported by Counterpoint Research. This decline is attributed to the rapid growth of Chinese Android device makers like Xiaomi and Vivo, which have been gaining ground against both Apple and Samsung. The delayed introduction of Apple's AI features, which were launched with the iPhone 16 in September, has also contributed to a mixed response in China, Apple's largest market outside the U.S.
Despite the overall decline in unit sales, Apple's premium models, such as the Pro and Pro Max, have seen increased demand, making up more than half of all iPhone sales in China. This trend highlights a strong consumer preference for high-end products in the Chinese market, even as Apple faces stiff competition from local brands. Analysts have noted that while Apple has been slower to introduce AI features compared to competitors like Google and Amazon, the company has focused on refining its offerings with an emphasis on privacy and user experience.
Apple's stock closed at $234.4 on January 13th, down 1.03% from its previous close of $236.85.